Common questions relating to Swanage leasehold conveyancing
I have recently realised that I have Seventy years remaining on my flat in Swanage. I now want to get lease extension but my landlord is can not be found. 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 submit an application 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 magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the landlord. For most situations a specialist should be helpful to carry out a search and to produce an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering Swanage.
Estate agents have just been given the go-ahead to market my basement apartment in Swanage.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – Do I pay up?
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.
Last month I purchased a leasehold property in Swanage. Am I liable to pay service charges for periods before completion of my purchase?
In a situation 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. A critical element 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).
What are your top tips when it comes to finding a Swanage conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Swanage conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Swanage conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- If they are not ALEP accredited then why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £250000 flat in Swanage in just under a week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Swanage?
Swanage conveyancing on leasehold maisonettes normally requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
I invested in buying a ground floor flat in Swanage, conveyancing was carried out in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Swanage with a long lease are worth £237,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2082
With 57 years left to run we estimate the price of your lease extension to range between £25,700 and £29,600 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive 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 you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
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