Frequently asked questions relating to Tibshelf leasehold conveyancing
Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Tibshelf. I now wish to extend my lease but my landlord is absent. What should I do?
On the basis that you qualify, 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. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. On the whole an enquiry agent may be helpful to carry out a search and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Tibshelf.
Expecting to sign contracts shortly on a ground floor flat in Tibshelf. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Tibshelf should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
- The physical extent of the demise. This will be the flat itself but could also include a loft or cellar if applicable.
- Does the lease require carpeting throughout thus preventing wood flooring?
- You must be told what counts as a Nuisance in the lease
- Changes to the flat (alterations and additions)
- The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
- What you can do if a neighbour is in violation of a provision in their lease?
I have just appointed agents to market my ground floor apartment in Tibshelf.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge demand – what should I do?
It best that you pay the service charge 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.
Last month I purchased a leasehold house in Tibshelf. Do I have any liability for service charges relating to a period prior to my ownership?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).
Can you provide any top tips for leasehold conveyancing in Tibshelf with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Tibshelf can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
- In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Tibshelf leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the consents in place you should not communicate with the landlord without checking with your solicitor in the first instance.
- Some Tibshelf leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
- If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
- You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
I purchased a 1 bedroom flat in Tibshelf, conveyancing was carried out 2005. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Tibshelf with over 90 years remaining are worth £245,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2105
With only 79 years unexpired we estimate the premium for your lease extension to range between £13,300 and £15,400 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 cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.