Locksbottom leasehold conveyancing Example Support Desk Enquiries
I only have 68 years left on my lease in Locksbottom. I need to extend my lease but my landlord is missing. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent may be helpful to try and locate and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Locksbottom.
I am tempted by the attractive purchase price for a two apartments in Locksbottom which have in the region of fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
I've recently bought a leasehold property in Locksbottom. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to finding a Locksbottom conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Locksbottom conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Locksbottom conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the firm with lease extension legislation?
If all goes to plan we aim to complete the sale of our £150000 maisonette in Locksbottom next week. The freeholder has quoted £396 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Locksbottom?
Locksbottom conveyancing on leasehold apartments more often than not requires the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries most will be willing to do so. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Locksbottom. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to assess the premium.
An example of a Lease Extension decision for a Locksbottom property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired term was 50.57 years.