Rochford leasehold conveyancing: Q and A’s
There are only Fifty years unexpired on my flat in Rochford. I now wish to extend my lease but my landlord is can not be found. What should I do?
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 enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the lessor. For most situations a specialist may be useful to carry out a search and prepare a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Rochford.
Estate agents have just been given the go-ahead to market my garden flat in Rochford.Conveyancing lawyers have not yet been instructed but I have just received a yearly service charge invoice – what should I do?
It best that you 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. This will smooth the conveyancing process.
My wife and I purchased a leasehold house in Rochford. Conveyancing and Coventry Building Society mortgage went though with no issue. 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 1993. The conveyancing practitioner in Rochford who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Rochford conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What advice can you give us when it comes to appointing a Rochford conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Rochford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Rochford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How familiar is the firm with lease extension legislation?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400000 flat in Rochford next week. The freeholder has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Rochford?
For most leasehold sales in Rochford conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Rochford
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I own a studio flat in Rochford, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Rochford with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2089
With just 66 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.