Sample questions relating to Machen leasehold conveyancing
I have recently realised that I have Fifty years left on my flat in Machen. I now want to extend my lease but my freeholder is missing. What options are available to me?
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 enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to locate the freeholder. In some cases a specialist should be useful to try and locate and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Machen.
I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Machen. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Machen are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Machen in which case you should be looking for a Machen conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I am tempted by the attractive purchase price for a couple of apartments in Machen which have approximately fifty years left on the leases. should I be concerned?
A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to finding a Machen conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Machen conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Machen conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
If all goes to plan we aim to complete the disposal of our £200000 flat in Machen next week. The freeholder has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Machen?
Machen conveyancing on leasehold flats nine out of ten times involves administration charges invoiced by managing agents :
- Answering conveyancing due diligence questions
- Where consent is required before sale in Machen
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Machen - A selection of Queries Prior to buying
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Is the freehold owned collectively by the leaseholders?
What is the length of the lease?
Who takes responsibility for maintaining and repairing the building?
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