Recently asked questions relating to Penyffordd leasehold conveyancing
I am in need of some leasehold conveyancing in Penyffordd. Before I get started I require certainty as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Penyffordd - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
There are only 62 years unexpired on my lease in Penyffordd. I now want to get lease extension but my freeholder is missing. What are my options?
If you meet the appropriate requirements, 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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. For most situations an enquiry agent should be useful to carry out a search and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Penyffordd.
I am hoping to put an offer on a small detached 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 rather than freehold. I would have thought that there are issues purchasing a leasehold house in Penyffordd. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Penyffordd ?
The majority of houses in Penyffordd are freehold and not 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 Penyffordd in which case you should be looking for a Penyffordd conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer will advise you fully on all the issues.
Back In 2009, I bought a leasehold house in Penyffordd. Conveyancing and The Royal Bank of Scotland mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Penyffordd who previously acted has now retired.Any advice?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Penyffordd conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to choosing a Penyffordd conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Penyffordd conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Penyffordd conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If they are not ALEP accredited then what is the reason?
I purchased a leasehold flat in Penyffordd, conveyancing having been completed 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Penyffordd with over 90 years remaining are worth £200,000. The ground rent is £65 levied per year. The lease expires on 21st October 2087
You have 62 years left to run the likely cost is going to be between £20,000 and £23,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed 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 taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
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