Frequently asked questions relating to Victoria Dock leasehold conveyancing
I am in need of some leasehold conveyancing in Victoria Dock. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Victoria Dock - 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.
Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Victoria Dock. I now wish to extend my lease 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 an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. For most situations an enquiry agent may be useful to conduct investigations and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Victoria Dock.
Estate agents have just been given the go-ahead to market my 2 bed apartment in Victoria Dock.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you 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 2003, I bought a leasehold house in Victoria Dock. Conveyancing and Accord Mortgages Ltd 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 demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Victoria Dock who previously acted has now retired.Any advice?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Victoria Dock conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate 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 sale of our £325000 flat in Victoria Dock next Tuesday . The management company has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Victoria Dock?
For most leasehold sales in Victoria Dock conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Answering pre-contract enquiries
- Where consent is required before sale in Victoria Dock
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I inherited a 1st floor flat in Victoria Dock, conveyancing having been completed 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Victoria Dock with a long lease are worth £252,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2099
You have 76 years unexpired the likely cost is going to be between £12,400 and £14,200 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.