Recently asked questions relating to Wokingham leasehold conveyancing
I have recently realised that I have Sixty One years unexpired on my flat in Wokingham. I now want to extend my lease but my landlord is missing. 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the landlord. For most situations a specialist may be helpful to carry out a search and to produce an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Wokingham.
I’m about to sell my basement flat in Wokingham.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge invoice – Do I pay up?
The sensible thing to do is 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.
Back In 2003, I bought a leasehold flat in Wokingham. Conveyancing and Platform Home Loans Ltd mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Wokingham who previously acted has long since retired.Any advice?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to instruct a Wokingham conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I work for a reputable estate agent office in Wokingham where we see a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Wokingham conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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.
If all goes to plan we aim to complete our sale of a £475000 maisonette in Wokingham in six days. The landlords agents has quoted £420 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Wokingham?
Wokingham conveyancing on leasehold flats often involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be content to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.
I acquired a 1st floor flat in Wokingham, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar properties in Wokingham with an extended lease are worth £254,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2081
You have 59 years unexpired we estimate the price of your lease extension to range between £28,500 and £33,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
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