I have recently realised that I have 62 years left on my lease in Arnside. I am keen to get lease extension but my landlord is missing. What options are available to me?

If you meet the appropriate requirements, 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 mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole a specialist may be helpful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Arnside.

I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Arnside. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Arnside are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Arnside in which case you should be shopping around for a Arnside conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.

I am attracted to a two maisonettes in Arnside both have in the region of 50 years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Arnside is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and lenders, 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 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 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 Arnside 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

I've recently bought a leasehold property in Arnside. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element 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).

Do you have any advice for leasehold conveyancing in Arnside from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Arnside can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers solicitors.
• Many landlords or Management Companies in Arnside charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Arnside.
• A minority of Arnside leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Arranging a duplicate share certificate is often a time consuming process and slows down many a Arnside conveyancing deal. Where a reissued share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
• You believe that you know the number of years left on your lease but you should verify this via your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

Arnside Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

Are there any major works on the horizon that could increase the maintenance costs? Most Arnside leasehold properties will have a service charge for maintenance of the block levied by the freeholder. Should you buy the flat you will have to meet this contribution, normally in instalments during the year. This may vary from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a rentcharge for you to pay yearly, normally this is not a significant sum, say about £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds. Be sure to investigate if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Arnside. If you like the flatin Arnside however your dog can’t make the move with you then you have a very hard choice.