Examples of recent questions relating to leasehold conveyancing in Twyford
Having checked my lease I have discovered that there are only Fifty years left on my flat in Twyford. I now wish to extend my lease but my landlord is can not be found. 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 apply 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 magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the lessor. For most situations a specialist would be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Twyford.
Expecting to complete next month on a leasehold property in Twyford. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Twyford should include some of the following:
- You should be sent a copy of the lease
My wife and I purchased a leasehold house in Twyford. Conveyancing and Bank of Scotland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Twyford who previously acted has long since retired.What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Twyford conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
If all goes to plan we aim to complete the disposal of our £275000 flat in Twyford in 8 days. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Twyford?
Twyford conveyancing on leasehold apartments more often than not requires the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions most will be content to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. In reality one has no option but to pay whatever is requested of you if you want to sell the property.
What makes a Twyford lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Twyford. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts 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
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Leeds Building Society, and Bank of Ireland all have very detailed requirements 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 pull out.
I invested in buying a leasehold flat in Twyford, conveyancing formalities finalised 7 years ago. 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? Corresponding flats in Twyford with over 90 years remaining are worth £184,000. The ground rent is £65 levied per year. The lease expires on 21st October 2101
With just 77 years unexpired we estimate the price of your lease extension to range between £10,500 and £12,000 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
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