Examples of recent questions relating to leasehold conveyancing in Walmley
I only have 62 years unexpired on my flat in Walmley. I now want to extend my lease but my landlord is absent. 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 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 demonstrate that you have done all that could be expected to locate the freeholder. In some cases a specialist would be helpful to carry out a search and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Walmley.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Walmley. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Walmley are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Walmley so you should seriously consider looking for a Walmley conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.
Back In 2007, I bought a leasehold house in Walmley. Conveyancing and Platform Home Loans Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Walmley who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Walmley conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a couple of flats in Walmley both have in the region of forty five years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Walmley. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area
What are your top tips when it comes to choosing a Walmley conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Walmley conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Walmley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
I inherited a leasehold flat in Walmley, conveyancing formalities finalised 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Walmley with over 90 years remaining are worth £256,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2079
You have 53 years left to run we estimate the premium for your lease extension to span between £36,100 and £41,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
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