Sample questions relating to Kings Norton leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Kings Norton. Before diving in I would like to find out the remaining lease term.
If the lease is registered - and most are in Kings Norton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
There are only 62 years left on my lease in Kings Norton. I need to extend my lease but my freeholder is can not be found. What should I do?
If you qualify, 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 made all reasonable attempts to track down the freeholder. On the whole an enquiry agent should be useful to carry out a search and to produce an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Kings Norton.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Kings Norton. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Kings Norton ?
Most houses in Kings Norton are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Kings Norton so you should seriously consider shopping around for a Kings Norton conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will report to you on the legal implications.
Back In 2001, I bought a leasehold flat in Kings Norton. Conveyancing and Britannia mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Kings Norton who acted for me is not around.What should I do?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Kings Norton conveyancing practitioner to do this as it can be done on-line for a few pound. 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.
Can you offer any advice when it comes to appointing a Kings Norton conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Kings Norton conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Kings Norton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:
- How familiar is the practice with lease extension legislation?
I invested in buying a studio flat in Kings Norton, conveyancing was carried out 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Kings Norton with an extended lease are worth £190,000. The average or mid-range amount of ground rent is £60 per annum. The lease finishes on 21st October 2097
You have 72 years remaining on your lease we estimate the premium for your lease extension to span between £7,600 and £8,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other 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 placing reliance on this information before getting professional advice.
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