There are only Sixty One years left on my lease in Cambridge. I need to extend my lease but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. In some cases a specialist would be useful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Cambridge.

Planning to exchange soon on a studio apartment in Cambridge. Conveyancing solicitors inform me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Cambridge should include some of the following:

• You should be sent a copy of the lease

My wife and I purchased a leasehold house in Cambridge. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Cambridge who previously acted has long since retired.Do I pay?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Cambridge conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate landlord, 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 two flats in Cambridge which have about forty five years remaining on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Cambridge is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat 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 Cambridge 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £375000 maisonette in Cambridge in 5 days. The managing agents has quoted £372 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Cambridge?

Cambridge conveyancing on leasehold maisonettes usually necessitates the purchaser’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to complete the sale of your home.

I own a 2 bed flat in Cambridge, conveyancing formalities finalised in 2012. How much will my lease extension cost? Similar properties in Cambridge with over 90 years remaining are worth £170,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2081

With 60 years left to run the likely cost is going to range between £21,900 and £25,200 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Cambridge