I am in need of some leasehold conveyancing in Barlborough. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and 99.9% are in Barlborough - 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.

There are only Fifty years left on my flat in Barlborough. I need to extend my lease but my landlord is missing. What are my options?

On the basis that 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 enable the lease to be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the freeholder. For most situations an enquiry agent would be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Barlborough.

My wife and I purchased a leasehold house in Barlborough. Conveyancing and Barclays Direct mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Barlborough who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Barlborough conveyancing lawyer to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of maisonettes in Barlborough both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Barlborough is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most purchasers and banks, 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 property 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 premises 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 Barlborough 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 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 Barlborough. Am I liable to pay service charges relating to a period prior to my ownership?

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. 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).

Leasehold Conveyancing in Barlborough - Examples of Questions you should ask before Purchasing

How many years are left on the lease? Who are the managing agents? The prefered form of lease structure is where the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders have control and although a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.

Other Topics

Lease Extensions in Barlborough