Examples of recent questions relating to leasehold conveyancing in Milton
There are only 68 years unexpired on my lease in Milton. I now wish to extend my lease but my landlord is missing. 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 apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the lessor. For most situations an enquiry agent would be helpful to carry out a search and to produce a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the application to the County Court overseeing Milton.
Planning to sign contracts shortly on a garden flat in Milton. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Milton should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I have just started marketing my 2 bed flat in Milton.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – Do I pay up?
It best that you discharge 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I purchased a leasehold house in Milton. Conveyancing and Barnsley Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Milton who acted for me is not around.Any advice?
First make enquiries of HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Milton conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What makes a Milton lease problematic?
Leasehold conveyancing in Milton is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts 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 can 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 Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.
I acquired a studio flat in Milton, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Milton with over 90 years remaining are worth £266,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2081
With 58 years remaining on your lease we estimate the price of your lease extension to be between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.