North End leasehold conveyancing: Q and A’s
There are only Sixty One years unexpired on my flat in North End. I now want to get lease extension but my freeholder is can not be found. What should I do?
On the basis that 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 enable the lease to be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to find the lessor. For most situations a specialist may be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering North End.
Looking forward to exchange soon on a leasehold property in North End. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in North End should include some of the following:
- You should be sent a copy of the lease
Back In 2003, I bought a leasehold house in North End. Conveyancing and Birmingham Midshires mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in North End who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a North End conveyancing firm 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 landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of maisonettes in North End both have about fifty years left on the lease term. should I be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area
All being well we will complete the sale of our £400000 apartment in North End in six days. The freeholder has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in North End?
North End conveyancing on leasehold flats more often than not requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.
I am the leaseholder of a garden flat in North End. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Most definitely. We can put you in touch with a North End conveyancing firm who can help.
An example of a Lease Extension case for a North End residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The the unexpired term as at the valuation date was 76 years.