Winsford leasehold conveyancing: Q and A’s
Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Winsford. I need to get lease extension but my landlord is can not be found. What are my options?
On the basis that you qualify, 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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent may be helpful to carry out a search and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Winsford.
Looking forward to complete next month on a leasehold property in Winsford. Conveyancing lawyers inform me that they are sending me a report tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Winsford should include some of the following:
- You should be sent a copy of the lease
I am employed by a long established estate agency in Winsford where we see a number of flat sales put at risk as a result of short leases. I have been given conflicting advice from local Winsford conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Do you have any advice for leasehold conveyancing in Winsford with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Winsford can be avoided if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
- If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Winsford leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you dont have the approvals in place do not contact the landlord without contacting your lawyer first.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £225000 apartment in Winsford in 8 days. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Winsford?
Winsford conveyancing on leasehold apartments usually involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to assist. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is technically not due. In reality you have little choice but to pay whatever is requested of you should you wish to complete the sale of your home.
Leasehold Conveyancing in Winsford - Sample of Questions you should consider Prior to buying
How is the lease structured?
Are any of leasehold owners in dispute over their service charge payments?
Are there any major works on the horizon that will likely increase the maintenance costs?