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Frequently asked questions relating to Speke leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Speke. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Speke - then the leasehold title will always include the basic details 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.

There are only Sixty One years remaining on my flat in Speke. I now wish to extend my lease but my freeholder is can not be found. What are my options?

On the basis that 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 mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. On the whole a specialist may be useful to try and locate and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the application to the County Court covering Speke.

Estate agents have just been given the go-ahead to market my garden apartment in Speke.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – Do I pay up?

The sensible thing to do is 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. This will smooth the conveyancing process.

I own a leasehold flat in Speke. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Speke who acted for me is not around.Any advice?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Speke conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Speke with the intention of expediting the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Speke can be bypassed where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Speke state that internal structural changes or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. Should you dont have the paperwork in place you should not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Speke leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming process and slows down many a Speke conveyancing deal. If a duplicate share is necessary, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.

    • I inherited a 1 bedroom flat in Speke, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Speke with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ceases on 21st October 2097

    With only 72 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as professional fees.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

    Other Topics

    Lease Extensions in Speke