Frequently asked questions relating to Tilehurst leasehold conveyancing
There are only Seventy years left on my lease in Tilehurst. I need to extend my lease but my landlord is can not be found. What are my options?
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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases a specialist may be helpful to carry out a search and prepare 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 both on investigating the landlord’s absence and the application to the County Court overseeing Tilehurst.
Due to complete next month on a studio apartment in Tilehurst. Conveyancing solicitors assured me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Tilehurst should include some of the following:
- Does the lease require carpeting throughout thus preventing wood flooring?
- Are pets allowed in the flat?
- Whether the lease restricts you from renting out the property, or working from home
- You should have a good understanding of the insurance provisions
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- Responsibility for repairing the window frames
- What the implications are if you breach a clause of your lease?
I have just appointed agents to market my 2 bed flat in Tilehurst.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should 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 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.
Last month I purchased a leasehold property in Tilehurst. Do I have any liability for service charges for periods before completion of my purchase?
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. It is an essential part 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).
Can you offer any advice when it comes to appointing a Tilehurst conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Tilehurst conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Tilehurst conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- If they are not ALEP accredited then why not?
- What volume of lease extensions has the firm carried out in Tilehurst in the last 12 months?
I purchased a ground floor flat in Tilehurst, conveyancing having been completed half a dozen years ago. 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? Corresponding flats in Tilehurst with an extended lease are worth £213,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2093
With 67 years unexpired we estimate the price of your lease extension to range between £15,200 and £17,600 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.