Recently asked questions relating to Swadlincote leasehold conveyancing
I have recently realised that I have Seventy years left on my lease in Swadlincote. I now want to get lease extension 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 Court. However, you will be required to demonstrate that you have used your best endeavours to locate the lessor. For most situations a specialist should be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Swadlincote.
Estate agents have just been given the go-ahead to market my ground floor flat in Swadlincote.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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.
Back In 2009, I bought a leasehold flat in Swadlincote. Conveyancing and Bank of Ireland 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 1993. The conveyancing practitioner in Swadlincote who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Swadlincote conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
What are your top tips when it comes to finding a Swadlincote conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Swadlincote conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Swadlincote conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the firm with lease extension legislation?
What makes a Swadlincote lease problematic?
There is nothing unique about leasehold conveyancing in Swadlincote. Most leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- 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
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.
I am the registered owner of a ground floor flat in Swadlincote, conveyancing formalities finalised 1998. How much will my lease extension cost? Comparable flats in Swadlincote with a long lease are worth £255,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease comes to an end on 21st October 2093
With just 68 years unexpired the likely cost is going to span between £14,300 and £16,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
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