Questions and Answers: Yarm leasehold conveyancing
I have recently realised that I have Fifty years remaining on my flat in Yarm. I need to extend my lease but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations a specialist would be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Yarm.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Yarm. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Yarm are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Yarm in which case you should be shopping around for a Yarm conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should appraise you on the various issues.
My wife and I purchased a leasehold flat in Yarm. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Yarm who previously acted has now retired.Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Yarm conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Can you offer any advice when it comes to finding a Yarm conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Yarm conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Yarm conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
What are the frequently found deficiencies that you come across in leases for Yarm properties?
There is nothing unique about leasehold conveyancing in Yarm. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the building
- Insurance obligations
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Service charge per centages that don't add up correctly leaving a shortfall
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. Halifax, Coventry Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
I am the registered owner of a 1 bedroom flat in Yarm, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Yarm with over 90 years remaining are worth £195,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2075
With 51 years remaining on your lease we estimate the price of your lease extension to span between £35,200 and £40,600 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.