Fixed-fee leasehold conveyancing in Stapleton:

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Stapleton leasehold conveyancing: Q and A’s

I only have Fifty years unexpired on my flat in Stapleton. I need to extend my lease but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. On the whole a specialist should be helpful to conduct investigations and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Stapleton.

I am hoping to sign contracts shortly on a leasehold property in Stapleton. Conveyancing solicitors assured me that they will have a report out to me next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Stapleton should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Setting out your rights in relation to common areas in the building.E.G., does the lease permit a right of way over a path or hallways?
  • Will you be prohibited or prevented from having pets in the property?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat For a comprehensive list of information to be contained in your report on your leasehold property in Stapleton please ask your solicitor in ahead of your conveyancing in Stapleton

    • I own a leasehold flat in Stapleton. Conveyancing and Yorkshire Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Stapleton who acted for me is not around.What should I do?

    First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Stapleton conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Last month I purchased a leasehold flat in Stapleton. Am I liable to pay service charges relating to a period prior to completion of my purchase?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Do you have any top tips for leasehold conveyancing in Stapleton from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Stapleton can be avoided if you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Some Stapleton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Arranging a duplicate share certificate is often a time consuming formality and frustrates many a Stapleton home move. Where a new share is required, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the registered owner of a garden flat in Stapleton, conveyancing formalities finalised 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Stapleton with an extended lease are worth £210,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2078

    With just 55 years unexpired we estimate the premium for your lease extension to span between £30,400 and £35,200 as well as legals.

    The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stapleton