Frequently asked questions relating to St Mawes leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in St Mawes. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and 99.9% are in St Mawes - 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.
I only have 72 years unexpired on my lease in St Mawes. I now want to get lease extension but my freeholder is missing. 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 Court. However, you will be required to prove that you have done all that could be expected to find the freeholder. In some cases a specialist may be useful to carry out a search and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering St Mawes.
I am hoping to complete next month on a studio apartment in St Mawes. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in St Mawes should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
Back In 2000, I bought a leasehold house in St Mawes. Conveyancing and National Westminster Bank mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in St Mawes who acted for me is not around.Any advice?
First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. You do not need to instruct a St Mawes conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you provide any advice for leasehold conveyancing in St Mawes with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in St Mawes can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
- The majority freeholders or Management Companies in St Mawes levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in St Mawes.
I am the registered owner of a 1 bedroom flat in St Mawes, conveyancing formalities finalised in 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in St Mawes with a long lease are worth £238,000. The ground rent is £45 per annum. The lease runs out on 21st October 2071
With 50 years unexpired the likely cost is going to be between £35,200 and £40,600 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.