Common questions relating to St Mawes leasehold conveyancing
Having checked my lease I have discovered that there are only 68 years left on my flat in St Mawes. I need to get lease extension but my freeholder is absent. What should I do?
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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to find the freeholder. For most situations a specialist may be helpful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering St Mawes.
Looking forward to exchange soon on a leasehold property in St Mawes. Conveyancing solicitors inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in St Mawes should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in St Mawes. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in St Mawes ?
Most houses in St Mawes are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in St Mawes in which case you should be shopping around for a St Mawes conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.
What advice can you give us when it comes to appointing a St Mawes conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a St Mawes conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non St Mawes conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the practice with lease extension legislation?
In relation to leasehold conveyancing in St Mawes what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in St Mawes. All leases are individual and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Royal Bank of Scotland, and Alliance & Leicester all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I acquired a ground floor flat in St Mawes, conveyancing formalities finalised in 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in St Mawes with an extended lease are worth £242,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease expires on 21st October 2075
With only 50 years unexpired we estimate the price of your lease extension to span between £36,100 and £41,800 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
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