I am on look out for some leasehold conveyancing in Peterston Super Ely. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Peterston Super Ely - then the leasehold title will always include the basic details 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.

I only have 62 years unexpired on my lease in Peterston Super Ely. I now wish to get lease extension but my landlord is can not be found. What are my options?

If 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 lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. For most situations an enquiry agent should be useful to conduct investigations and prepare a report which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Peterston Super Ely.

I have just started marketing my garden apartment in Peterston Super Ely.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge invoice – Do I pay up?

The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Can you provide any advice for leasehold conveyancing in Peterston Super Ely from the perspective of expediting the sale process?

• Much of the delay in leasehold conveyancing in Peterston Super Ely can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers conveyancers.
• A minority of Peterston Super Ely leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.

If all goes to plan we aim to complete our sale of a £275000 maisonette in Peterston Super Ely on Tuesday in a week. The landlords agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Peterston Super Ely?

Peterston Super Ely conveyancing on leasehold maisonettes usually requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to these enquiries most will be willing to assist. They are at liberty invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.

Peterston Super Ely Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

You should be aware that where the lease has fewer than eighty years it will impact the value of the property. It is worth checking with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you will need to own the property for 24 months in order to be eligible to carry out a lease extension. How many years are left on the lease? For many Peterston Super Ely leaseholds the outlay for major works tend not to be wrapped into the service charges, albeit that there some managing agents in Peterston Super Ely require tenants to contribute towards a sinking fund created for the specific intention of building a fund for larger repairs or maintenance.

Other Topics

Lease Extensions in Peterston Super Ely