Common questions relating to Werrington leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Werrington. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in Werrington - 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.
I only have 68 years unexpired on my flat in Werrington. I now wish to extend my lease but my landlord is can not be found. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be helpful to try and locate and prepare a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Werrington.
I’m about to sell my basement apartment in Werrington.Conveyancing is yet to be initiated but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you clear the service charge 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. This will smooth the conveyancing process.
I've recently bought a leasehold property in Werrington. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Can you offer any advice when it comes to choosing a Werrington conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Werrington conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Werrington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
I am the registered owner of a basement flat in Werrington, conveyancing having been completed in 2011. Can you work out an approximate cost of a lease extension? Corresponding properties in Werrington with over 90 years remaining are worth £246,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2083
You have 62 years remaining on your lease the likely cost is going to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.