Quality lawyers for Leasehold Conveyancing in Saltash

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Examples of recent questions relating to leasehold conveyancing in Saltash

Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Saltash. I now wish to extend my lease but my freeholder is missing. What are my options?

If you meet the appropriate requirements, 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent would be useful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Saltash.

I have just appointed agents to market my ground floor apartment in Saltash.Conveyancing lawyers have not yet been instructed but I have just received a yearly service 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 unless 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.

I am a negotiator for a busy estate agent office in Saltash where we have witnessed a number of flat sales put at risk as a result of short leases. I have received inconsistent advice from local Saltash conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. 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 sale.

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 buyer.

All being well we will complete the disposal of our £350000 apartment in Saltash in just under a week. The managing agents has quoted £384 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Saltash?

Saltash conveyancing on leasehold maisonettes ordinarily necessitates administration charges invoiced by management companies :

  • Completing pre-exchange questions
  • Where consent is required before sale in Saltash
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Saltash leasehold property is £350. For Saltash conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

When it comes to leasehold conveyancing in Saltash what are the most common lease defects?

Leasehold conveyancing in Saltash is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain elements of the property
  • A duty to insure the building
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Barnsley Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

Saltash Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

    Is anyone aware of any major works in the near future that will likely add a premium to the maintenance costs? Make sure you investigate if the the lease includes any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Saltash. If you love the propertyin Saltash yet your dog is not allowed to move with you then you will be faced hard determination. This question is useful as a) areas can cause problems for the block as the common areas may start to deteriorate if services are not paid for b) if the leaseholders have a dispute with the managing agents you will want to know about it

Other Topics

Lease Extensions in Saltash