Common questions relating to Sneyd Green leasehold conveyancing
I am on look out for some leasehold conveyancing in Sneyd Green. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Sneyd Green - 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.
Having checked my lease I have discovered that there are only 68 years left on my lease in Sneyd Green. I am keen to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you qualify, 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 extended by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be useful to carry out a search and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Sneyd Green.
I’m about to sell my garden flat in Sneyd Green.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?
It best that you clear 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. Having a clear account will assist your cause and will leave you no worse off financially.
I've found a house that seems to be perfect, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Sneyd Green. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Sneyd Green ?
Most houses in Sneyd Green are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Sneyd Green so you should seriously consider shopping around for a Sneyd Green conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should report to you on the legal implications.
Last month I purchased a leasehold house in Sneyd Green. Am I liable to pay service charges relating to a period prior to 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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
Sneyd Green Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
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What is the the remaining lease term?
If a Sneyd Green lease has fewer than eighty years it will affect the marketability of the apartment. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth discovering what this will be. Remember, in most cases you would be required to have owned the residence for a couple of years in order to be eligible to exercise a lease extension.
Most Sneyd Green leasehold flats will be liable to pay a service bill for maintenance of the block invoiced by the landlord. Should you purchase the flat you will have to pay this charge, normally periodically during the year. This can vary from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all likelihood there will be a ground rent for you to pay annual, normally this is not a large amount, say about £50-£100 but you need to enquire it because sometimes it can be many hundreds of pounds.
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