Having checked my lease I have discovered that there are only 62 years unexpired on my flat in Todwick. I need to get lease extension but my freeholder is missing. 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 enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. In some cases an enquiry agent may be useful to carry out a search and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Todwick.

I am hoping to exchange soon on a leasehold property in Todwick. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Todwick should include some of the following:

• The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark

I have just started marketing my ground floor flat in Todwick.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance charge invoice – 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 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.

Completion in due on the disposal of our £475000 apartment in Todwick on Tuesday in a week. The managing agents has quoted £360 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Todwick?

Todwick conveyancing on leasehold apartments usually necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They are entitled invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you if you want to complete the sale of your home.

Are there frequently found problems that you encounter in leases for Todwick properties?

Leasehold conveyancing in Todwick is not unique. Most 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 elements of the building
• 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 can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Todwick - A selection of Queries before Purchasing

Is there a share of the freehold? It would be sensible to discover as much as you can regarding the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the communal areas. You should not be afraid to ask prospective neighbours if they are happy with their service. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what you get for your money. The answer will be important as a) areas may result in problems for the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will wish to have all the details

Other Topics

Lease Extensions in Todwick