Top Five Questions relating to Tintagel leasehold conveyancing
I am in need of some leasehold conveyancing in Tintagel. Before diving in I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Tintagel - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having checked my lease I have discovered that there are only 68 years left on my flat in Tintagel. I now want to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that 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 extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations a specialist may be helpful to carry out a search and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Tintagel.
Estate agents have just been given the go-ahead to market my ground floor flat in Tintagel.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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 flat in Tintagel. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee 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).
Completion in due on the disposal of our £475000 maisonette in Tintagel in nine days. The management company has quoted £372 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Tintagel?
For the majority of leasehold sales in Tintagel conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering conveyancing due diligence enquiries
- Where consent is required before sale in Tintagel
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a basement flat in Tintagel, conveyancing formalities finalised in 2004. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Tintagel with a long lease are worth £220,000. The ground rent is £55 charged once a year. The lease expires on 21st October 2093
You have 71 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.