Having had my offer accepted I require leasehold conveyancing in Beckermet. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and most are in Beckermet - 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.

I only have 62 years remaining on my flat in Beckermet. I need to get lease extension but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations a specialist would be helpful to carry out a search and prepare a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Beckermet.

My wife and I purchased a leasehold house in Beckermet. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Beckermet who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Beckermet conveyancing firm to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in Beckermet which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Beckermet is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the value of the property. The majority of buyers and mortgage companies, 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 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 Beckermet 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.

What makes a Beckermet lease unacceptable for security purposes?

Leasehold conveyancing in Beckermet is not unique. Most leases are individual and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Bank of Ireland all have very detailed 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, forcing the buyer to pull out.

I invested in buying a 1 bedroom flat in Beckermet, conveyancing was carried out in 2001. Can you work out an approximate cost of a lease extension? Comparable flats in Beckermet with over 90 years remaining are worth £178,000. The ground rent is £45 yearly. The lease runs out on 21st October 2075

With only 50 years unexpired the likely cost is going to range between £33,300 and £38,400 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Beckermet