Frequently asked questions relating to Norbury leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Norbury. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Norbury - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have 68 years remaining on my lease in Norbury. I now want to extend my lease but my landlord is absent. 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 lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole an enquiry agent would be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Norbury.
My wife and I purchased a leasehold flat in Norbury. Conveyancing and Leeds Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Norbury who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Norbury conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you offer any advice when it comes to finding a Norbury conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Norbury conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Norbury 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 many lease extensions has the firm carried out in Norbury in the last 12 months?
- What are the charges for lease extension work?
Completion in due on our sale of a £ 125000 garden flat in Norbury next week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Norbury?
Norbury conveyancing on leasehold maisonettes ordinarily involves fees being invoiced by management companies :
- Completing pre-contract enquiries
- Where consent is required before sale in Norbury
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Norbury. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We are happy to put you in touch with a Norbury conveyancing firm who can help.
An example of a Lease Extension decision for a Norbury property is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 23.25 years.
I purchased a leasehold flat in Norbury, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Norbury with a long lease are worth £205,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2092
With just 66 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.