Todmorden leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Todmorden. Before I get started I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Todmorden - 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.
I have recently realised that I have Sixty One years left on my lease in Todmorden. I now wish to get lease extension but my landlord is missing. What are my options?
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 lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. For most situations a specialist would be helpful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Todmorden.
I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Todmorden. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Todmorden are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Todmorden in which case you should be looking for a Todmorden conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.
Do you have any advice for leasehold conveyancing in Todmorden from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Todmorden can be reduced where you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the buyers conveyancers.
- If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Todmorden state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. If you fail to have the paperwork in place you should not contact the landlord without checking with your conveyancer in advance.
We expect to complete the sale of our £200000 garden flat in Todmorden in 5 days. The freeholder has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Todmorden?
Todmorden conveyancing on leasehold maisonettes normally involves administration charges invoiced by landlords agents :
- Answering pre-exchange questions
- Where consent is required before sale in Todmorden
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the registered owner of a garden flat in Todmorden, conveyancing was carried out 7 years ago. How much will my lease extension cost? Similar flats in Todmorden with over 90 years remaining are worth £172,000. The ground rent is £60 levied per year. The lease runs out on 21st October 2081
With only 61 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.