Fixed-fee leasehold conveyancing in Monkseaton:

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Monkseaton leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Monkseaton. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Monkseaton - 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.

I have recently realised that I have 68 years left on my lease in Monkseaton. I am keen to get lease extension but my freeholder is can not be found. What are my options?

If 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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent would be helpful to try and locate and to produce a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Monkseaton.

Expecting to sign contracts shortly on a studio apartment in Monkseaton. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Monkseaton should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Whether the lease restricts you from subletting the property, or working from home
  • You need to be told what constitutes a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Monkseaton please ask your solicitor in ahead of your conveyancing in Monkseaton

    • I have just appointed agents to market my 2 bed apartment in Monkseaton.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is clear 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.

    What advice can you give us when it comes to appointing a Monkseaton conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Monkseaton conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Monkseaton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • How many lease extensions have they carried out in Monkseaton in the last twenty four months?
  • What are the costs for lease extension conveyancing?

    • I invested in buying a 1st floor flat in Monkseaton, conveyancing was carried out in 2009. Can you work out an approximate cost of a lease extension? Equivalent flats in Monkseaton with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £60 per annum. The lease comes to an end on 21st October 2082

    You have 57 years unexpired we estimate the premium for your lease extension to span between £24,700 and £28,600 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 extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Monkseaton