I am on look out for some leasehold conveyancing in Aylesford. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Aylesford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Having checked my lease I have discovered that there are only 62 years remaining on my lease in Aylesford. I need to extend my lease but my landlord is can not be found. What are my options?

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 extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the landlord. In some cases an enquiry agent should be helpful to try and locate and prepare an expert document which can be used as evidence 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 overseeing Aylesford.

I am tempted by the attractive purchase price for a two flats in Aylesford both have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Aylesford. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to choosing a Aylesford conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Aylesford conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Aylesford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How familiar is the firm with lease extension legislation?

What makes a Aylesford lease problematic?

There is nothing unique about leasehold conveyancing in Aylesford. All leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• 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 may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Aylesford Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

Is the freehold reversion owned jointly by the tenants? The best form of lease structure is a share of the freehold. In this situation the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants. Its a good idea to find out as much as you can concerning the managing agents as they can either make life much easier or much more difficult. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the upkeep of the common parts. Ask prospective neighbours what they think of them. In conclusion, be sure you discover the dates that the maintenance charges are due to the managing agents and precisely what it includes.

Other Topics

Lease Extensions in Aylesford