Top Five Questions relating to Machen leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Machen. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Machen - 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.
There are only Sixty One years remaining on my flat in Machen. I now want to get lease extension but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. For most situations a specialist would be helpful to carry out a search and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Machen.
Back In 2001, I bought a leasehold flat in Machen. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Machen who previously acted has long since retired.Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Machen conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Do you have any top tips for leasehold conveyancing in Machen with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Machen can be bypassed where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
- If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Machen leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without checking with your lawyer in the first instance.
- A minority of Machen leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
- If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved.
- You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
We expect to complete our sale of a £ 175000 garden flat in Machen in just under 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 Machen?
Machen conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They may invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.
Machen Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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Are there any major works on the horizon that could add a premium to the maintenance fees?