Top Five Questions relating to Sandbanks leasehold conveyancing
Having checked my lease I have discovered that there are only Seventy years left on my flat in Sandbanks. I am keen to extend my lease but my landlord is missing. 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 Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. In some cases an enquiry agent should be useful to try and locate and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court overseeing Sandbanks.
I am hoping to exchange soon on a garden flat in Sandbanks. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Sandbanks should include some of the following:
- You should receive a copy of the lease
Back In 2009, I bought a leasehold house in Sandbanks. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Sandbanks who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Sandbanks conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Sandbanks. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
What advice can you give us when it comes to finding a Sandbanks conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Sandbanks conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Sandbanks conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
I purchased a 2 bed flat in Sandbanks, conveyancing was carried out 8 years ago. How much will my lease extension cost? Similar properties in Sandbanks with an extended lease are worth £255,000. The ground rent is £60 charged once a year. The lease ends on 21st October 2085
You have 61 years remaining on your lease we estimate the premium for your lease extension to be between £18,100 and £20,800 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 cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
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