Frequently asked questions relating to Stapleton leasehold conveyancing
Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Stapleton. I am keen to extend my lease but my landlord 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 an order 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 locate the freeholder. On the whole a specialist should be helpful to conduct investigations and prepare an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Stapleton.
Expecting to exchange soon on a garden flat in Stapleton. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Stapleton should include some of the following:
- The physical extent of the property. This will be the property itself but could also incorporate a loft or cellar if applicable.
I have just started marketing my 2 bed apartment in Stapleton.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly maintenance charge invoice – what should I do?
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 until 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 Stapleton. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Stapleton who acted for me is not around.Any advice?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Stapleton conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What makes a Stapleton lease defective?
There is nothing unique about leasehold conveyancing in Stapleton. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the building
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Barclays Direct 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, obliging the purchaser to withdraw.
I own a garden flat in Stapleton, conveyancing having been completed 2001. How much will my lease extension cost? Corresponding flats in Stapleton with an extended lease are worth £255,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2093
With just 68 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
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