Questions and Answers: The Hale leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in The Hale. Before I get started I would like to find out the remaining lease term.
If the lease is registered - and almost all are in The Hale - then the leasehold title will always include the short particulars 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 Sixty One years unexpired on my lease in The Hale. I need to extend my lease but my landlord is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. For most situations an enquiry agent would be useful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing The Hale.
I own a leasehold flat in The Hale. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in The Hale who previously acted has now retired.Any advice?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. There is no need to instruct a The Hale conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We expect to complete the sale of our £ 150000 flat in The Hale on Friday in a week. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in The Hale?
For the majority of leasehold sales in The Hale conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-exchange enquiries
- Where consent is required before sale in The Hale
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in The Hale. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a The Hale conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a The Hale flat is 20 Orchard Court Stonegrove in June 2009. The tribunal decided that a premium of £11,040 should be payable for the new lease This case related to 1 flat. The remaining number of years on the lease was 71.55 years.
Are there frequently found problems that you witness in leases for The Hale properties?
Leasehold conveyancing in The Hale is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the property
- Insurance obligations
- 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
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Skipton Building Society, and Alliance & Leicester all have express conveyancing instructions 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 provide security, forcing the buyer to pull out.
I bought a ground floor flat in The Hale, conveyancing was carried out in 2008. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in The Hale with a long lease are worth £231,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2094
With 68 years unexpired we estimate the price of your lease extension to range between £11,400 and £13,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues 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 placing reliance on this information without first seeking the advice of a professional.