Recently asked questions relating to Lymm leasehold conveyancing
I have recently realised that I have 68 years unexpired on my lease in Lymm. I now wish to get lease extension 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 magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the lessor. In some cases a specialist should be useful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Lymm.
Expecting to sign contracts shortly on a leasehold property in Lymm. Conveyancing solicitors assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Lymm should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- The total extent of the premises. This will be the property itself but may include a roof space or basement if appropriate.
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- Whether your lease has a provision for a reserve fund?
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- What the implications are if you breach a clause of your lease?
I own a leasehold flat in Lymm. Conveyancing and National Westminster Bank 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 solicitor in Lymm who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Lymm conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Last month I purchased a leasehold flat in Lymm. Am I liable to pay service charges for periods before 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
If all goes to plan we aim to complete the sale of our £ 250000 flat in Lymm on Friday in a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Lymm?
Lymm conveyancing on leasehold apartments ordinarily necessitates fees being raised by management companies :
- Addressing pre-exchange questions
- Where consent is required before sale in Lymm
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a garden flat in Lymm, conveyancing was carried out in 1995. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Lymm with a long lease are worth £231,000. The ground rent is £65 invoiced every year. The lease finishes on 21st October 2076
With just 50 years unexpired the likely cost is going to be between £39,900 and £46,200 plus 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 are not able to supply the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.