Top Five Questions relating to Mudeford leasehold conveyancing
I am in need of some leasehold conveyancing in Mudeford. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Mudeford - 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.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Mudeford. I now want to extend my lease but my freeholder is can not be found. What options are available to me?
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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent would be useful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Mudeford.
Estate agents have just been given the go-ahead to market my ground floor flat in Mudeford.Conveyancing has not commenced but I have just received a yearly service charge invoice – Do I pay up?
The sensible thing to do is 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 managing agents 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. This will smooth the conveyancing process.
I am tempted by the attractive purchase price for a two flats in Mudeford both have about 50 years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area
Completion in due on the disposal of our £125000 apartment in Mudeford in just under a week. The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Mudeford?
Mudeford conveyancing on leasehold apartments more often than not requires the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They are entitled invoice a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no option but to pay whatever is requested of you if you want to complete the sale of your home.
Mudeford Leasehold Conveyancing - Sample of Queries before buying
This information is helpful as a) areas can result in problems for the building as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure
Is there a share of the freehold?
You will want to find out as much as possible about the company managing the block as they will either make your life much easier or much more difficult. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day matters such as the upkeep of the common parts. Ask other people what they think of their service. Finally, find out the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money.