Salford leasehold conveyancing: Q and A’s
I only have Sixty One years left on my flat in Salford. I now want to get lease extension but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you have used your best endeavours to locate the freeholder. On the whole a specialist may be helpful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Salford.
I am hoping to exchange soon on a leasehold property in Salford. Conveyancing solicitors assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Salford should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
- Do you need to have carpet in the flat or are you allowed wood flooring?
- You must be told what counts as a Nuisance in the lease
- Changes to the flat (alterations and additions)
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What the implications are if you breach a clause of your lease?
I am attracted to a couple of flats in Salford both have about 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Salford. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field
What advice can you give us when it comes to choosing a Salford conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Salford conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Salford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then why not?
- What volume of lease extensions has the firm carried out in Salford in the last year?
All being well we will complete the disposal of our £ 475000 maisonette in Salford on Wednesday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Salford?
Salford conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They may charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to sell the property.
I purchased a basement flat in Salford, conveyancing formalities finalised 1999. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Salford with a long lease are worth £187,000. The ground rent is £60 per annum. The lease expires on 21st October 2084
With 58 years unexpired the likely cost is going to be between £24,700 and £28,600 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.