Having checked my lease I have discovered that there are only Fifty years left on my lease in Acocks Green. I now wish to extend my lease but my landlord is absent. What are my options?

If 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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. In some cases a specialist would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Acocks Green.

I have just started marketing my 2 bed flat in Acocks Green.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Acocks Green. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Acocks Green ?

Most houses in Acocks Green are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Acocks Green in which case you should be looking for a Acocks Green conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.

I am looking at a couple of maisonettes in Acocks Green both have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Acocks Green. The 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 decreases and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

What makes a Acocks Green lease unacceptable for security purposes?

Leasehold conveyancing in Acocks Green is not unique. All leases are individual and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.

Acocks Green Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

Be sure to discover if there are any onerous prohibitions in the lease. For instance it is reasonably common in Acocks Green leases that pets are not permitted in in a block in Acocks Green. If you love the flatin Acocks Green however your cat can’t move with you then you have a very hard decision. How much is the maintenance charge and ground rent on the property? Please note if it is fewer than eighty years it will affect the marketability of the flat. Check with your bank that they are content with remaining years on the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for two years in order to be legally able to extend the lease.

Other Topics

Lease Extensions in Acocks Green