Recently asked questions relating to Kings Heath leasehold conveyancing
I only have 72 years remaining on my lease in Kings Heath. I am keen to extend my lease but my freeholder is absent. 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 submit an application 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 demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. On the whole a specialist would be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Kings Heath.
I own a leasehold house in Kings Heath. Conveyancing and Aldermore mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Kings Heath who previously acted has long since retired.Any advice?
First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Kings Heath conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two apartments in Kings Heath which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Kings Heath. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena
I am a negotiator for a busy estate agent office in Kings Heath where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Kings Heath conveyancing firms. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
All being well we will complete the sale of our £175000 maisonette in Kings Heath next week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Kings Heath?
Kings Heath conveyancing on leasehold apartments nine out of ten times results in fees being invoiced by managing agents :
- Completing pre-contract questions
- Where consent is required before sale in Kings Heath
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
Kings Heath Leasehold Conveyancing - Examples of Questions you should ask before buying
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It is important to be aware whether a new roof is being installed or some other significant cost is due in the foreseeable future to be shared amongst the leaseholders and will dramatically impact the level of the service costs or require a one off payment.
You should want to discover as much as possible about the managing agents as they will either make your living at the property much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to day to day issues such as the upkeep of the communal areas. Enquire of prospective neighbours whether they are happy with their management. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and specifically how they are spending that money.
Where a Kings Heath lease has less than 80 years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of what this will be. For most Kings Heathlease extensions you would be be obliged to have owned the property for two years before you are legally able to exercise a lease extension.
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