Top Five Questions relating to Whitton leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years remaining on my lease in Whitton. I now wish 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 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 have made all reasonable attempts to locate the landlord. For most situations an enquiry agent would be useful to carry out a search and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Whitton.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Whitton. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Whitton ?
Most houses in Whitton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Whitton so you should seriously consider looking for a Whitton conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.
I am looking at a couple of apartments in Whitton which have approximately 50 years unexpired on the leases. Will this present a problem?
There are plenty of short leases in Whitton. The lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area
Last month I purchased a leasehold property in Whitton. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 225000 flat in Whitton in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Whitton?
Whitton conveyancing on leasehold flats usually necessitates the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to do so. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
We have reached the end of our tether in seeking a lease extension in Whitton. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Whitton conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Whitton premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 60.45 years.
I inherited a 2 bed flat in Whitton, conveyancing having been completed 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Whitton with over 90 years remaining are worth £198,000. The average or mid-range amount of ground rent is £65 yearly. The lease terminates on 21st October 2095
With only 69 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.