Recently asked questions relating to Montpelier leasehold conveyancing
There are only Seventy years left on my lease in Montpelier. I now want to extend my lease but my freeholder is missing. What are my options?
On the basis that 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 mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be useful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Montpelier.
I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Montpelier. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Montpelier are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Montpelier so you should seriously consider looking for a Montpelier conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.
My wife and I purchased a leasehold flat in Montpelier. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Montpelier who previously acted has now retired.Do I pay?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Montpelier conveyancing lawyer to do this as it can be done on-line for a few pound. 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.
I work for a long established estate agent office in Montpelier where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Montpelier conveyancing firms. Please can you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Completion in due on the sale of our £450000 maisonette in Montpelier in just under a week. The freeholder has quoted £312 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 Montpelier?
Montpelier conveyancing on leasehold flats normally results in fees being raised by managing agents :
- Completing conveyancing due diligence enquiries
- Where consent is required before sale in Montpelier
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I bought a 1 bedroom flat in Montpelier, conveyancing having been completed in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Montpelier with over 90 years remaining are worth £180,000. The ground rent is £50 per annum. The lease ends on 21st October 2084
With just 62 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.