Sandhurst leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Sandhurst. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Sandhurst - then the leasehold title will always include the short particulars 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 62 years unexpired on my flat in Sandhurst. I now want to get lease extension but my landlord is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. In some cases a specialist should be helpful to conduct investigations and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court overseeing Sandhurst.
Looking forward to exchange soon on a basement flat in Sandhurst. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Sandhurst should include some of the following:
- The physical extent of the property. This will be the property itself but could also include a loft or basement if applicable.
- Setting out your rights in respect of the communal areas in the block.By way of example, does the lease include a right of way over an accessway or hallways?
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- You should have a good understanding of the insurance provisions
- Repair and maintenance of the flat
- What options are open to you if a neighbour is in violation of a provision in their lease?
Back In 2006, I bought a leasehold house in Sandhurst. Conveyancing and Platform Home Loans Ltd mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Sandhurst who previously acted has now retired.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Sandhurst conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Last month I purchased a leasehold property in Sandhurst. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 ensure 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).
I inherited a ground floor flat in Sandhurst, conveyancing formalities finalised 1997. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Sandhurst with an extended lease are worth £245,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2086
With just 60 years remaining on your lease we estimate the premium for your lease extension to be between £21,900 and £25,200 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.