Whitchurch leasehold conveyancing Example Support Desk Enquiries
I have recently realised that I have 68 years left on my lease in Whitchurch. I am keen to get lease extension but my freeholder is absent. What should I do?
If you meet the appropriate requirements, 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 mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. In some cases an enquiry agent would be helpful to try and locate and prepare an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Whitchurch.
Estate agents have just been given the go-ahead to market my 2 bed flat in Whitchurch.Conveyancing has not commenced but I have just received a half-yearly maintenance charge invoice – Do I pay up?
It best that you pay 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 managing agents 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.
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Whitchurch. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Whitchurch ?
The majority of houses in Whitchurch are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Whitchurch in which case you should be looking for a Whitchurch conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer will appraise you on the various issues.
I am tempted by the attractive purchase price for a couple of maisonettes in Whitchurch both have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Whitchurch. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field
Do you have any advice for leasehold conveyancing in Whitchurch from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Whitchurch can be reduced if you appoint lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the buyers representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Whitchurch leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. Where you fail to have the approvals in place you should not communicate with the landlord without contacting your lawyer in advance.
I purchased a split level flat in Whitchurch, conveyancing formalities finalised in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Whitchurch with a long lease are worth £240,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2093
With 73 years unexpired we estimate the premium for your lease extension to span between £11,400 and £13,200 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.