Common questions relating to Pitsea leasehold conveyancing
I have recently realised that I have 68 years remaining on my flat in Pitsea. I now want to extend my lease but my landlord is missing. 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations an enquiry agent may be useful to conduct investigations and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Pitsea.
My wife and I purchased a leasehold flat in Pitsea. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Pitsea who acted for me is not around.What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Pitsea 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 legitimate 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 Pitsea both have in the region of 50 years remaining on the leases. should I be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field
I am a negotiator for a reputable estate agency in Pitsea where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Pitsea conveyancing solicitors. Can you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 apartment in Pitsea next week. The freeholder has quoted £372 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Pitsea?
Pitsea conveyancing on leasehold flats more often than not requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries most will be content to assist. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to sell the property.
I am the registered owner of a garden flat in Pitsea, conveyancing was carried out in 2001. Can you work out an approximate cost of a lease extension? Corresponding flats in Pitsea with an extended lease are worth £220,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2085
With just 60 years remaining on your lease we estimate the price of your lease extension to be between £23,800 and £27,400 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.
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