Examples of recent questions relating to leasehold conveyancing in Small Heath
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Small Heath. I now want to get lease extension but my freeholder is can not be found. 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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. In some cases a specialist may be helpful to conduct investigations and prepare a report to 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 in relation to proving the landlord’s absence and the vesting order request to the County Court covering Small Heath.
Estate agents have just been given the go-ahead to market my ground floor apartment in Small Heath.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 until 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.
My wife and I purchased a leasehold flat in Small Heath. Conveyancing and Barclays mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Small Heath who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Small Heath conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I work for a reputable estate agency in Small Heath where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Small Heath conveyancing firms. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease 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. This means that the proposed purchaser can avoid having 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 simultaneously with completion of the sale.
An alternative approach is 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £175000 flat in Small Heath on Tuesday in a week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Small Heath?
Small Heath conveyancing on leasehold flats typically results in fees being levied by landlords agents :
- Addressing pre-contract questions
- Where consent is required before sale in Small Heath
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I acquired a garden flat in Small Heath, conveyancing was carried out in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Small Heath with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2091
With only 70 years left to run we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.