Radcliffe leasehold conveyancing: Q and A’s
I only have 62 years remaining on my flat in Radcliffe. I need to extend my lease but my landlord is can not be found. 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 magistrate. You will be obliged to prove that you have made all reasonable attempts to locate the freeholder. In some cases a specialist would be useful to try and locate and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Radcliffe.
I own a leasehold house in Radcliffe. Conveyancing and Barnsley Building Society 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 demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Radcliffe who previously acted has now retired.Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Radcliffe conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a couple of maisonettes in Radcliffe which have in the region of 50 years unexpired on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena
I've recently bought a leasehold property in Radcliffe. Am I liable to pay service charges for periods before 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. Strange as it may seem, 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).
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £ 400000 flat in Radcliffe next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Radcliffe?
For the majority of leasehold sales in Radcliffe conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Radcliffe
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I invested in buying a studio flat in Radcliffe, conveyancing was carried out 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Radcliffe with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £55 yearly. The lease ends on 21st October 2096
With 70 years unexpired the likely cost is going to range between £13,300 and £15,400 as well as 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 extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.