I am on look out for some leasehold conveyancing in Bamburgh. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Bamburgh - then the leasehold title will always include the short particulars 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.

I only have Fifty years left on my lease in Bamburgh. I am keen to get lease extension but my freeholder 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 magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the landlord. On the whole a specialist may be helpful to conduct investigations and prepare a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Bamburgh.

I am looking at a couple of apartments in Bamburgh both have approximately fifty years unexpired on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Bamburgh. Do I have any liability for service charges for periods before 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

I am a negotiator for a reputable estate agency in Bamburgh where we have witnessed a few flat sales derailed as a result of short leases. I have received inconsistent advice from local Bamburgh conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Bamburgh Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

Make sure you find out if there are any onerous restrictions in the lease. For instance it is very common in Bamburgh leases that pets are not allowed in in a block in Bamburgh. If you like the flatin Bamburgh but your cat is not allowed to move with you then you will be faced hard determination. Most Bamburgh leasehold flats will incur a service bill for maintenance of the building set by the landlord. If you buy the flat you will have to meet this liability, usually periodically accross the year. This may be anything from several hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a rentcharge for you to pay yearly, this is usually not a exorbitant figure, say approximately £50-£100 but you should to enquire as occasionally it can be surprisingly expensive. How much is the ground rent and service charge?

Other Topics

Lease Extensions in Bamburgh