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Ogmore By Sea leasehold conveyancing Example Support Desk Enquiries

There are only 68 years remaining on my lease in Ogmore By Sea. I need to extend my lease but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations a specialist may be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Ogmore By Sea.

Last month I purchased a leasehold house in Ogmore By Sea. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 finding a Ogmore By Sea conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Ogmore By Sea conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Ogmore By Sea conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Ogmore By Sea who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Ogmore By Sea with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Ogmore By Sea can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Ogmore By Sea leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord approving such changes. Where you dont have the approvals to hand you should not contact the landlord without checking with your conveyancer in the first instance.
  • A minority of Ogmore By Sea leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unresolved.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Obtaining a replacement share certificate is often a lengthy process and slows down many a Ogmore By Sea home move. If a new share is required, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • What are the frequently found deficiencies that you see in leases for Ogmore By Sea properties?

    There is nothing unique about leasehold conveyancing in Ogmore By Sea. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

    Ogmore By Sea Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

      Plenty Ogmore By Sea leasehold apartments will incur a service charge for maintenance of the building invoiced on behalf of the management company. Should you buy the property you will have to meet this contribution, usually periodically during the year. This may differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all probability there will be a ground rent for you to pay annual, ordinarily this is not a significant figure, say around £25-£75 but you need to enquire as on occasion it can be many hundreds of pounds. Does the lease have more than 80 years remaining? How many of the leaseholders are in arrears for their maintenance charge payments?

    Other Topics

    Lease Extensions in Ogmore By Sea