Common questions relating to Shotton leasehold conveyancing
I only have 72 years unexpired on my lease in Shotton. I now wish to get lease extension but my freeholder is missing. 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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have used your best endeavours to locate the lessor. For most situations an enquiry agent should be useful to conduct investigations and prepare an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Shotton.
I own a leasehold house in Shotton. Conveyancing and Halifax mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Shotton who acted for me is not around.Any advice?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Shotton conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of maisonettes in Shotton which have in the region of fifty years unexpired on the leases. should I be concerned?
A lease is a right to use the premises for a period of time. As the lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this area
I work for a reputable estate agency in Shotton where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Shotton conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 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 disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £200000 flat in Shotton next week. The freeholder has quoted £408 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Shotton?
For the majority of leasehold sales in Shotton conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Completing pre-contract enquiries
- Where consent is required before sale in Shotton
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a 1st floor flat in Shotton, conveyancing having been completed in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Shotton with a long lease are worth £267,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2080
With only 54 years unexpired we estimate the price of your lease extension to span between £33,300 and £38,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
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