Sample questions relating to Mitcham leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years left on my flat in Mitcham. I now wish to extend my lease but my landlord is absent. What are my options?
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 enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. In some cases a specialist would be helpful to try and locate and to produce a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Mitcham.
Looking forward to exchange soon on a studio apartment in Mitcham. Conveyancing solicitors have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Mitcham should include some of the following:
- You should be told what constitutes a Nuisance in the lease
- An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
- Whether your lease has a provision for a reserve fund?
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
Can you offer any advice when it comes to finding a Mitcham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Mitcham conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Mitcham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How familiar is the firm with lease extension legislation?
- How many lease extensions has the firm completed in Mitcham in the last year?
Do you have any advice for leasehold conveyancing in Mitcham with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Mitcham can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ lawyers.
- Many freeholders or managing agents in Mitcham charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mitcham.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Mitcham state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. Where you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer first.
- If there is a history of conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to ongoing.
- If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a lengthy formality and frustrates many a Mitcham conveyancing transaction. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
All being well we will complete the sale of our £ 475000 maisonette in Mitcham in just under a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Mitcham?
Mitcham conveyancing on leasehold flats normally necessitates the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries the majority will be content to do so. They are at liberty charge a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Mitcham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We are happy to put you in touch with a Mitcham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Mitcham premises is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case was in relation to 2 flats. The unexpired term was 86.11 and 60.64.
I acquired a garden flat in Mitcham, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Mitcham with a long lease are worth £220,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2080
You have 54 years left to run the likely cost is going to be between £33,300 and £38,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.