Recently asked questions relating to Todmorden leasehold conveyancing
There are only 68 years left on my flat in Todmorden. I need to get lease extension but my freeholder is absent. What options are available to me?
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 enable the lease to be extended by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the freeholder. For most situations an enquiry agent may be useful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Todmorden.
I have just started marketing my basement flat in Todmorden.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge demand – what should I do?
The sensible thing to do is discharge 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.
Back In 2002, I bought a leasehold house in Todmorden. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Todmorden who previously acted has now retired.Any advice?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Todmorden conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £325000 garden flat in Todmorden next week. The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Todmorden?
For most leasehold sales in Todmorden conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-exchange enquiries
- 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
What makes a Todmorden lease unacceptable for security purposes?
Leasehold conveyancing in Todmorden is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the property
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I acquired a studio flat in Todmorden, conveyancing was carried out 2009. 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? Similar flats in Todmorden with an extended lease are worth £175,000. The ground rent is £65 levied per year. The lease runs out on 21st October 2098
With only 73 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
Other Topics