Harold Wood leasehold conveyancing: Q and A’s
I have recently realised that I have 62 years remaining on my flat in Harold Wood. I am keen to extend my lease but my freeholder is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. For most situations an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Harold Wood.
Back In 2006, I bought a leasehold house in Harold Wood. Conveyancing and TSB mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Harold Wood who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Harold Wood conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a reputable estate agent office in Harold Wood where we have witnessed a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Harold Wood conveyancing firms. Please can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
What are your top tips when it comes to choosing a Harold Wood conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Harold Wood conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Harold Wood conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How experienced is the firm with lease extension legislation?
If all goes to plan we aim to complete our sale of a £300000 flat in Harold Wood in just under a week. The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Harold Wood?
Harold Wood conveyancing on leasehold apartments more often than not involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be content to assist. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to sell the property.
We have reached the end of our tether in trying to purchase the freehold in Harold Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the amount due.
An example of a Lease Extension case for a Harold Wood property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The the unexpired residue of the current lease was 57.5 years.
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