Sample questions relating to Westcliff On Sea leasehold conveyancing
I have recently realised that I have 72 years left on my lease in Westcliff On Sea. I am keen to extend my lease but my freeholder is can not be found. 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 submit an application 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 magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. On the whole an enquiry agent would be helpful to carry out a search and prepare a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Westcliff On Sea.
I own a leasehold flat in Westcliff On Sea. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Westcliff On Sea who previously acted has now retired.Any advice?
First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Westcliff On Sea conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of flats in Westcliff On Sea both have about 50 years left on the leases. Do I need to be concerned?
There are plenty of short leases in Westcliff On Sea. The lease is a right to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to appointing a Westcliff On Sea conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Westcliff On Sea conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Westcliff On Sea 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 of use:
- How familiar is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Westcliff On Sea from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Westcliff On Sea can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the buyers representatives.
- Many freeholders or managing agents in Westcliff On Sea levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Westcliff On Sea.
I bought a ground floor flat in Westcliff On Sea, conveyancing formalities finalised in 2004. How much will my lease extension cost? Similar properties in Westcliff On Sea with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2085
With only 64 years left to run the likely cost is going to be between £15,200 and £17,600 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional 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 without first seeking the advice of a professional.