Frequently asked questions relating to North Ferriby leasehold conveyancing
I only have 62 years unexpired on my flat in North Ferriby. I now wish to get lease extension 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent may be useful to try and locate and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing North Ferriby.
I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in North Ferriby. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in North Ferriby ?
Most houses in North Ferriby are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in North Ferriby in which case you should be looking for a North Ferriby conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
My wife and I purchased a leasehold flat in North Ferriby. Conveyancing and The Mortgage Works mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in North Ferriby who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a North Ferriby conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to finding a North Ferriby conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a North Ferriby conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non North Ferriby conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
What volume of lease extensions has the firm conducted in North Ferriby in the last year?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £300000 garden flat in North Ferriby next Tuesday . The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in North Ferriby?
North Ferriby conveyancing on leasehold apartments usually involves the purchaser’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be willing to assist. They may charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. In reality you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
I acquired a leasehold flat in North Ferriby, conveyancing was carried out 1995. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in North Ferriby with a long lease are worth £202,000. The ground rent is £60 invoiced annually. The lease runs out on 21st October 2099
You have 75 years unexpired the likely cost is going to be between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.