Frequently asked questions relating to Netherley leasehold conveyancing
Having checked my lease I have discovered that there are only Sixty One years unexpired on my flat in Netherley. I am keen to extend my lease but my landlord 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. On the whole a specialist should be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Netherley.
Expecting to complete next month on a garden flat in Netherley. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Netherley should include some of the following:
- Are you allowed to have a pet in the flat?
I have just started marketing my 2 bed apartment in Netherley.Conveyancing has not commenced but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
The sensible thing to do is clear the invoice 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 unless 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £475000 garden flat in Netherley in just under a week. The management company has quoted £312 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Netherley?
Netherley conveyancing on leasehold flats more often than not involves the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is above £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to complete the sale of your home.
What are the frequently found problems that you see in leases for Netherley properties?
There is nothing unique about leasehold conveyancing in Netherley. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the premises
- Insurance obligations
- 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Coventry Building Society, and TSB all have express conveyancing instructions 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 pull out.
I bought a split level flat in Netherley, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Netherley with over 90 years remaining are worth £270,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2102
With just 77 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
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