Top Five Questions relating to Southend On Sea leasehold conveyancing
There are only Sixty One years left on my flat in Southend On Sea. I need to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you qualify, 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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. In some cases a specialist should be useful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Southend On Sea.
Due to sign contracts shortly on a leasehold property in Southend On Sea. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Southend On Sea should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
Estate agents have just been given the go-ahead to market my ground floor apartment in Southend On Sea.Conveyancing has not commenced but I have just received a quarterly service charge demand – what should I do?
It best that you discharge 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 managing agents 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 own a leasehold flat in Southend On Sea. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Southend On Sea who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Southend On Sea conveyancing firm to do this as it can be done on-line for a few pound. 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.
What advice can you give us when it comes to choosing a Southend On Sea conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Southend On Sea conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Southend On Sea conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
I purchased a ground floor flat in Southend On Sea, conveyancing was carried out 1997. How much will my lease extension cost? Comparable properties in Southend On Sea with over 90 years remaining are worth £256,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease terminates on 21st October 2076
With 55 years remaining on your lease we estimate the premium for your lease extension to be between £33,300 and £38,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.