Recently asked questions relating to Crewe leasehold conveyancing
I have recently realised that I have 72 years remaining on my lease in Crewe. I need to extend my lease but my landlord is missing. What options are available to me?
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 mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. In some cases a specialist would be useful to try and locate and to produce a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Crewe.
I have just started marketing my 2 bed apartment in Crewe.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – Do I pay up?
The sensible thing to do is clear the service charge 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 management companies 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.
I am tempted by the attractive purchase price for a two apartments in Crewe both have approximately forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies 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 arena
Last month I purchased a leasehold flat in Crewe. Am I liable to pay service charges for periods before 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).
What are your top tips when it comes to finding a Crewe conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Crewe conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Crewe conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:
- How familiar is the practice with lease extension legislation?
I inherited a 1 bedroom flat in Crewe, conveyancing formalities finalised in 2005. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Crewe with a long lease are worth £222,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ends on 21st October 2082
With 57 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
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