Saltney leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Saltney. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Saltney - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I only have 72 years remaining on my lease in Saltney. I now want to extend my lease but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. For most situations a specialist would be helpful to try and locate and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Saltney.
I have just appointed agents to market my garden apartment in Saltney.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?
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. This will smooth the conveyancing process.
I am attracted to a couple of flats in Saltney both have in the region of fifty years remaining on the leases. Do I need to be concerned?
There are plenty of short leases in Saltney. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
I am employed by a long established estate agency in Saltney where we have experienced a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Saltney conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with 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.
Saltney Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
For many Saltney leaseholds the outlay for major works tend not to be included within service charges, albeit that there some managing agents in Saltney ask leaseholders to contribute towards a sinking fund created for the specific purpose of establishing a fund for larger works.
What prohibitions are there in the Saltney Lease?
Best to be warned if window replacement or some other significant cost is due in the near future that will be shared amongst the tenants and could well dramatically impact the level of the service charges or require a specific payment.