Sample questions relating to Horfield leasehold conveyancing
I have recently realised that I have 68 years unexpired on my flat in Horfield. I now want to get lease extension 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 mean that your lease can be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to track down the landlord. In some cases a specialist may be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Horfield.
I am hoping to sign contracts shortly on a leasehold property in Horfield. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Horfield should include some of the following:
- Does the lease prohibit wood flooring?
I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Horfield. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Horfield ?
Most houses in Horfield are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Horfield so you should seriously consider shopping around for a Horfield conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I've recently bought a leasehold property in Horfield. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
If all goes to plan we aim to complete the sale of our £375000 apartment in Horfield on Monday in a week. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Horfield?
Horfield conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are entitled invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little choice but to pay whatever is requested of you if you want to complete the sale of your home.
I am the registered owner of a split level flat in Horfield, conveyancing having been completed 1999. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Horfield with over 90 years remaining are worth £217,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease expires on 21st October 2080
You have 54 years left to run we estimate the price of your lease extension to span between £31,400 and £36,200 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
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