I have recently realised that I have 62 years remaining on my flat in Bordon. I now wish to get lease extension but my freeholder is can not be found. 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 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 locate the freeholder. On the whole an enquiry agent may be useful to try and locate and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Bordon.

I today plan to offer on a house that appears to meet my requirements, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Bordon. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in Bordon are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Bordon in which case you should be looking for a Bordon conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I own a leasehold house in Bordon. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Bordon who previously acted has now retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Bordon conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate 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 apartments in Bordon both have in the region of 50 years remaining on the leases. should I be concerned?

A lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to finding a Bordon conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Bordon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Bordon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

I acquired a 1st floor flat in Bordon, conveyancing formalities finalised 2006. How much will my lease extension cost? Equivalent properties in Bordon with over 90 years remaining are worth £190,000. The ground rent is £65 invoiced annually. The lease runs out on 21st October 2086

With 61 years remaining on your lease we estimate the price of your lease extension to span between £20,900 and £24,200 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional 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 based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Bordon