Sample questions relating to Mousehole leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years remaining on my lease in Mousehole. I am keen to extend my lease but my freeholder is missing. What options are available to me?
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 mean that your lease can be lengthened by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the landlord. For most situations an enquiry agent should be helpful to conduct investigations and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court covering Mousehole.
Looking forward to complete next month on a leasehold property in Mousehole. Conveyancing lawyers assured me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Mousehole should include some of the following:
- Setting out your rights in respect of common areas in the block.For instance, does the lease include a right of way over a path or staircase?
I've recently bought a leasehold flat in Mousehole. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to appointing a Mousehole conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Mousehole conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Mousehole 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 useful:
- How experienced is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Mousehole with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Mousehole can be reduced if you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
- The majority freeholders or managing agents in Mousehole charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Mousehole.
I inherited a garden flat in Mousehole, conveyancing having been completed 7 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Mousehole with a long lease are worth £256,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2074
You have 53 years unexpired we estimate the price of your lease extension to span between £30,400 and £35,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional 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 without first getting professional advice.