Common questions relating to Tilbury leasehold conveyancing
I have recently realised that I have Fifty years left on my flat in Tilbury. I need to get lease extension but my freeholder is absent. What are my options?
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 an order 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 used your best endeavours to locate the freeholder. For most situations an enquiry agent may be helpful to try and locate and to produce 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 devolving into the landlord’s disappearance and the application to the County Court covering Tilbury.
I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Tilbury. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Tilbury are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Tilbury in which case you should be shopping around for a Tilbury conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your conveyancer will appraise you on the various issues.
Last month I purchased a leasehold property in Tilbury. Am I liable to pay service charges relating to a period prior to my ownership?
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. It is an essential part 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 offer any advice when it comes to choosing a Tilbury conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Tilbury conveyancing firm) it is essential that he or she should 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 Tilbury 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?
If all goes to plan we aim to complete our sale of a £425000 flat in Tilbury on Tuesday in a week. The landlords agents has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Tilbury?
Tilbury conveyancing on leasehold maisonettes often requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address these enquiries most will be content to do so. They may levy 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 is in excess of £800. The management information fee levied by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the charge is technically not due. In reality you have little choice but to pay whatever is demanded should you wish to sell the property.
I purchased a basement flat in Tilbury, conveyancing having been completed 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Tilbury with over 90 years remaining are worth £262,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2090
You have 65 years remaining on your lease we estimate the price of your lease extension to span between £18,100 and £20,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
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