Common questions relating to Pentyrch leasehold conveyancing
Having checked my lease I have discovered that there are only Fifty years left on my lease in Pentyrch. I now want to extend my lease but my landlord is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. For most situations an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Pentyrch.
I own a leasehold house in Pentyrch. Conveyancing and Barnsley Building Society 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 practitioner in Pentyrch who previously acted has long since retired.What should I do?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Pentyrch conveyancing lawyer to do this as it can be done on-line for £3. Rest assured 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 attracted to a two flats in Pentyrch both have approximately fifty years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Pentyrch. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area
What are your top tips when it comes to appointing a Pentyrch conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Pentyrch conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Pentyrch conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- Can they put you in touch with client in Pentyrch who can give a testimonial?
Do you have any advice for leasehold conveyancing in Pentyrch from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Pentyrch can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
- The majority freeholders or managing agents in Pentyrch charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Pentyrch.
I bought a ground floor flat in Pentyrch, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Pentyrch with a long lease are worth £235,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2089
With 69 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.