Top Five Questions relating to Roath leasehold conveyancing
Having checked my lease I have discovered that there are only Sixty One years remaining on my lease in Roath. I now want to extend my lease but my landlord is missing. What are my options?
If 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 mean that your lease can be extended by the Court. However, you will be required to prove that you have done all that could be expected to locate the lessor. For most situations a specialist may be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the application to the County Court overseeing Roath.
Planning to exchange soon on a leasehold property in Roath. Conveyancing lawyers assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Roath should include some of the following:
- Does the lease prevent you from renting out the property, or working from home
Back In 2001, I bought a leasehold house in Roath. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Roath who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Roath conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a reputable estate agent office in Roath where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Roath conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What advice can you give us when it comes to finding a Roath conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Roath conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Roath conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- If the firm is not ALEP accredited then why not?
I invested in buying a 1st floor flat in Roath, conveyancing having been completed 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Roath with a long lease are worth £206,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2096
With just 75 years left to run the likely cost is going to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should 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.