Wythenshawe leasehold conveyancing Example Support Desk Enquiries
There are only Seventy years unexpired on my lease in Wythenshawe. I need to extend my lease but my landlord is missing. What should I do?
On the basis that you qualify, 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 enable the lease to be extended by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Wythenshawe.
Back In 2003, I bought a leasehold flat in Wythenshawe. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Wythenshawe who acted for me is not around.Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Wythenshawe conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am tempted by the attractive purchase price for a two apartments in Wythenshawe both have in the region of fifty years unexpired on the leases. Do I need to be concerned?
A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area
Last month I purchased a leasehold flat in Wythenshawe. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
In relation to leasehold conveyancing in Wythenshawe what are the most common lease problems?
Leasehold conveyancing in Wythenshawe is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
- Repairing obligations to or maintain parts of the premises
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Service charge per centages that don't add up correctly leaving a shortfall
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
I invested in buying a basement flat in Wythenshawe, conveyancing formalities finalised 10 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Wythenshawe with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 yearly. The lease comes to an end on 21st October 2101
With just 77 years unexpired we estimate the premium for your lease extension to be between £11,400 and £13,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
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