I only have Fifty years remaining on my lease in Boston. I am keen to extend my lease but my freeholder is absent. 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 enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the lessor. In some cases an enquiry agent should be helpful to try and locate and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Boston.

I have just started marketing my garden flat in Boston.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Boston. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Boston ?

The majority of houses in Boston are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Boston so you should seriously consider shopping around for a Boston conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a two apartments in Boston both have approximately 50 years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Boston. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this field

When it comes to leasehold conveyancing in Boston what are the most common lease problems?

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

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Boston Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying

Can you tell me if there are any major works in the planning that could add a premium to the maintenance costs? Please note that where the lease has fewer than 80 years it will have adverse implications on the value of the flat. It is worth checking with your lender that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will need to own the residence for a couple of years in order to be legally able to carry out a lease extension. What prohibitions exist in the Boston Lease?

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Lease Extensions in Boston