Twyford leasehold conveyancing: Q and A’s
I only have Fifty years left on my lease in Twyford. I need to get lease extension but my freeholder is missing. What are my options?
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 mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the lessor. In some cases a specialist would be helpful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Twyford.
Due to complete next month on a studio apartment in Twyford. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Twyford should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I have just appointed agents to market my basement flat in Twyford.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly 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 managing agents 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.
What advice can you give us when it comes to choosing a Twyford conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Twyford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Twyford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
Are there common deficiencies that you come across in leases for Twyford properties?
There is nothing unique about leasehold conveyancing in Twyford. Most leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain elements of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- 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. HSBC Bank, Chelsea Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
I bought a 2 bed flat in Twyford, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Twyford with a long lease are worth £250,000. The ground rent is £50 per annum. The lease finishes on 21st October 2098
With 74 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
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