I only have 62 years left on my lease in Abbots Langley. I now wish to get lease extension 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 lengthened by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole a specialist should be helpful to conduct investigations and to produce an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Abbots Langley.

Expecting to exchange soon on a basement flat in Abbots Langley. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Abbots Langley should include some of the following:

• You should receive a copy of the lease

How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark

Defining your rights in relation to the communal areas in the building.E.G., does the lease contain a right of way over a path or staircase?

Whether the lease restricts you from renting out the property, or working from home

The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

What options are open to you if a neighbour is in violation of a provision in their lease?

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Abbots Langley please enquire of your solicitor in advance of your conveyancing in Abbots Langley

I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Abbots Langley. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Abbots Langley ?

Most houses in Abbots Langley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Abbots Langley so you should seriously consider shopping around for a Abbots Langley conveyancing practitioner and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

I am tempted by the attractive purchase price for a two maisonettes in Abbots Langley both have in the region of forty five years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Abbots Langley is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Abbots Langley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

If all goes to plan we aim to complete the sale of our £425000 maisonette in Abbots Langley next Tuesday . The landlords agents has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Abbots Langley?

Abbots Langley conveyancing on leasehold apartments nine out of ten times involves administration charges invoiced by managing agents :

• Answering conveyancing due diligence questions
• Where consent is required before sale in Abbots Langley
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Abbots Langley leasehold premises is £350. For Abbots Langley conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I invested in buying a studio flat in Abbots Langley, conveyancing was carried out 2012. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Abbots Langley with an extended lease are worth £215,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2095

With only 69 years left to run the likely cost is going to span between £13,300 and £15,400 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Abbots Langley