Questions and Answers: Rowlands Gill leasehold conveyancing
I have recently realised that I have 72 years unexpired on my flat in Rowlands Gill. I need to get lease extension but my landlord is can not be found. What should I do?
On the basis that 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 Court. However, you will be required to demonstrate that you have used your best endeavours to track down the lessor. In some cases a specialist may be helpful to try and locate and to produce a report to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Rowlands Gill.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Rowlands Gill. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Rowlands Gill are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Rowlands Gill so you should seriously consider looking for a Rowlands Gill conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.
I am employed by a long established estate agent office in Rowlands Gill where we see a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Rowlands Gill conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible 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 are your top tips when it comes to finding a Rowlands Gill conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Rowlands Gill conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Rowlands Gill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:
- What volume of lease extensions have they carried out in Rowlands Gill in the last year?
If all goes to plan we aim to complete the sale of our £475000 flat in Rowlands Gill in 8 days. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Rowlands Gill?
Rowlands Gill conveyancing on leasehold flats usually requires the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are entitled levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I purchased a studio flat in Rowlands Gill, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Rowlands Gill with a long lease are worth £266,000. The ground rent is £55 per annum. The lease ceases on 21st October 2081
You have 56 years remaining on your lease we estimate the premium for your lease extension to range between £25,700 and £29,600 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do 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. You should not take any other action based on this information before getting professional advice.
Other Topics