Top Five Questions relating to Taverham leasehold conveyancing
There are only Seventy years unexpired on my flat in Taverham. I now want to extend my lease but my freeholder is absent. What should I do?
If you qualify, 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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you have made all reasonable attempts to locate the lessor. On the whole an enquiry agent would be useful to conduct investigations and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Taverham.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Taverham. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Taverham ?
Most houses in Taverham are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Taverham so you should seriously consider looking for a Taverham conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.
My wife and I purchased a leasehold house in Taverham. Conveyancing and Virgin Money 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 1994. The conveyancing solicitor in Taverham who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of 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 Taverham conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured 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 Taverham conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Taverham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Taverham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the firm with lease extension legislation?
All being well we will complete our sale of a £425000 maisonette in Taverham in just under a week. The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Taverham?
Taverham conveyancing on leasehold apartments more often than not requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They are entitled invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
I inherited a 2 bed flat in Taverham, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Taverham with an extended lease are worth £207,000. The ground rent is £55 per annum. The lease runs out on 21st October 2089
With 64 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.
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