Thornbury leasehold conveyancing Example Support Desk Enquiries
I only have Seventy years remaining on my flat in Thornbury. I need to get lease extension but my freeholder is can not be found. What should I do?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the lessor. In some cases an enquiry agent would be helpful to carry out a search and to produce a report to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Thornbury.
I’m about to sell my garden apartment in Thornbury.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
Back In 2001, I bought a leasehold flat in Thornbury. Conveyancing and Birmingham Midshires mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Thornbury who previously acted has now retired.Do I pay?
First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Thornbury conveyancing lawyer to do this as it can be done on-line 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.
I am looking at a two flats in Thornbury which have in the region of forty five years remaining on the lease term. should I be concerned?
A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena
What are the frequently found defects that you encounter in leases for Thornbury properties?
Leasehold conveyancing in Thornbury is not unique. All leases are unique and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Bank of Scotland, and Godiva Mortgages Ltd all have express 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 problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.
Thornbury Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
It would be wise to find out as much as possible about the managing agents as they will either make living at the property much easier or problematic. As the owner of a leasehold property you are often in the clutches of the managing agents both financially and when it comes to every day issues like the cleanliness of the common parts. You should not be afraid to ask prospective neighbours whether they are happy with them. Finally, be sure you know the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.
Who manages the block?
Most Thornbury leasehold flats will have a service bill for maintenance of the building invoiced on behalf of the freeholder. If you buy the property you will have to meet this liability, usually quarterly during the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met yearly, this is usually not a large figure, say around £50-£100 but you need to enquire it because occasionally it can be many hundreds of pounds.