Having checked my lease I have discovered that there are only 68 years remaining on my flat in Alsager. I am keen to get lease extension but my freeholder is absent. What options are available to me?

On the basis that you qualify, 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 mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist would be helpful to carry out a search and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Alsager.

I’m about to sell my 2 bed apartment in Alsager.Conveyancing has not commenced but I have just received a yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is clear 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.

Back In 2005, I bought a leasehold house in Alsager. Conveyancing and Halifax mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Alsager who previously acted has now retired.Any advice?

The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Alsager conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, 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 Alsager both have about fifty years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Alsager is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. 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 premises 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 a residence 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 Alsager conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.

Are there frequently found defects that you witness in leases for Alsager properties?

Leasehold conveyancing in Alsager is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

Leasehold Conveyancing in Alsager - Examples of Questions you should ask Prior to Purchasing

What is the the remaining lease term? Is there a share of the freehold?