Questions and Answers: Woolacombe leasehold conveyancing
There are only Fifty years remaining on my flat in Woolacombe. I am keen to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the landlord. In some cases a specialist should be helpful to carry out a search and prepare a report which can 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 disappearance and the vesting order request to the County Court covering Woolacombe.
Estate agents have just been given the go-ahead to market my ground floor apartment in Woolacombe.Conveyancing has not commenced but I have just had a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge 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 until 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 2008, I bought a leasehold flat in Woolacombe. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Woolacombe who previously acted has long since retired.Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. There is no need to instruct a Woolacombe conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Can you provide any top tips for leasehold conveyancing in Woolacombe from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Woolacombe can be reduced if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
- The majority landlords or Management Companies in Woolacombe charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Woolacombe.
What makes a Woolacombe lease problematic?
There is nothing unique about leasehold conveyancing in Woolacombe. All leases are individual and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- Insurance obligations
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.
Leasehold Conveyancing in Woolacombe - Sample of Queries Prior to buying
How is the lease structured?
Make sure you investigate if there is anything that is prohibited in the lease. For instance it is very common in Woolacombe leases that pets are not allowed in certain buildings in Woolacombe. If you love the flatin Woolacombe yet your cat is not allowed to move with you then you have a very difficult determination.
Please inform me if there are any major works anticipated that will add a premium to the maintenance charges?