Common questions relating to Lymm leasehold conveyancing
There are only Seventy years unexpired on my lease in Lymm. I now want to get lease extension 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 done all that could be expected to locate the landlord. In some cases a specialist should be useful to conduct investigations and to produce an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Lymm.
I’m about to sell my 2 bed flat in Lymm.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – what should I do?
The sensible thing to do is pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Lymm. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Lymm are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Lymm so you should seriously consider looking for a Lymm conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out 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 solicitor will appraise you on the various issues.
My wife and I purchased a leasehold house in Lymm. Conveyancing and Accord Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Lymm who acted for me is not around.Any advice?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Lymm conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
In relation to leasehold conveyancing in Lymm what are the most frequent lease defects?
Leasehold conveyancing in Lymm is not unique. Most leases are individual and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
Lymm Leasehold Conveyancing - Examples of Queries before Purchasing
You should want to discover as much as possible about the managing agents as they can either make your living at the property much easier or much more difficult. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to every day issues such as the tidiness of the common parts. You should not be shy to ask other people if they are happy with them. On a final note, find out the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.
The majority of Lymm leasehold properties will have a service charge for maintenance of the building levied on behalf of the management company. Where you acquire the apartment you will have to meet this charge, usually in instalments during the year. This could be anything from a few hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent for you to pay annual, ordinarily this is not a significant sum, say around £25-£75 but you need to check it because on occasion it could be prohibitively expensive.
How much is the ground rent and service charge?