Frequently asked questions relating to Manor House leasehold conveyancing
I only have 62 years left on my flat in Manor House. I am keen to get lease extension but my freeholder is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the landlord. For most situations a specialist should be useful to carry out a search and prepare a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Manor House.
Planning to complete next month on a ground floor flat in Manor House. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Manor House should include some of the following:
- You should be sent a copy of the lease
I have just started marketing my 2 bed flat in Manor House.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Can you provide any top tips for leasehold conveyancing in Manor House with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Manor House can be bypassed where you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Manor House levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Manor House.
Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Manor House. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Manor House flat is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case related to 1 flat. The the unexpired term as at the valuation date was 71 years.
Are there common problems that you come across in leases for Manor House properties?
Leasehold conveyancing in Manor House is not unique. Most leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Virgin Money, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.