Sample questions relating to St Leonards On Sea leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years remaining on my lease in St Leonards On Sea. I now wish to extend my lease but my landlord is can not be found. What should I do?
If you meet the appropriate requirements, 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 extended by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the freeholder. For most situations a specialist would be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court covering St Leonards On Sea.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in St Leonards On Sea. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in St Leonards On Sea ?
Most houses in St Leonards On Sea are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in St Leonards On Sea so you should seriously consider shopping around for a St Leonards On Sea conveyancing practitioner and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.
I am tempted by the attractive purchase price for a two flats in St Leonards On Sea both have in the region of 50 years remaining on the lease term. should I be concerned?
There are plenty of short leases in St Leonards On Sea. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area
Do you have any advice for leasehold conveyancing in St Leonards On Sea from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in St Leonards On Sea can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? St Leonards On Sea leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such works. Where you dont have the consents in place you should not contact the landlord without contacting your conveyancer in advance.
Completion in due on the disposal of our £425000 maisonette in St Leonards On Sea on Wednesday in a week. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in St Leonards On Sea?
St Leonards On Sea conveyancing on leasehold maisonettes normally necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They are at liberty charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality you have no choice but to pay whatever is requested of you if you want to complete the sale of your home.
I own a ground floor flat in St Leonards On Sea, conveyancing formalities finalised in 2004. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in St Leonards On Sea with over 90 years remaining are worth £247,000. The ground rent is £65 charged once a year. The lease ceases on 21st October 2072
With only 51 years remaining on your lease we estimate the premium for your lease extension to be between £39,900 and £46,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.