Fixed-fee leasehold conveyancing in Penrith:

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Penrith leasehold conveyancing Example Support Desk Enquiries

I only have 68 years unexpired on my flat in Penrith. I am keen to get lease extension 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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. For most situations a specialist should be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Penrith.

My wife and I purchased a leasehold flat in Penrith. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Penrith who previously acted has long since retired.Any advice?

First contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Penrith conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Penrith which have about forty five years unexpired on the leases. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this area

Can you provide any top tips for leasehold conveyancing in Penrith from the point of view of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Penrith can be bypassed if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
  • Many freeholders or Management Companies in Penrith levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Penrith.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Penrith state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you dont have the approvals in place do not contact the landlord without checking with your lawyer before hand.
  • A minority of Penrith leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are 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 purchasers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate can be a lengthy formality and frustrates many a Penrith conveyancing deal. Where a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.

    • All being well we will complete our sale of a £175000 apartment in Penrith on Friday in a week. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Penrith?

    Penrith conveyancing on leasehold maisonettes often involves the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to do so. They may charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Penrith Leasehold Conveyancing - Sample of Questions you should ask Prior to buying

      Most Penrith leasehold flats will be liable to pay a service bill for the upkeep of the building set on behalf of the landlord. Should you acquire the apartment you will have to pay this contribution, usually quarterly accross the year. This could differ from several hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a rentcharge for you to pay annual, this is usually not a significant figure, say about £25-£75 but you should to enquire as occasionally it could be many hundreds of pounds. The prefered form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this situation the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. This information is helpful as a) areas can cause problems in the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will need to have complete disclosure

    Other Topics

    Lease Extensions in Penrith