There are only 72 years remaining on my lease in Camelford. I need to get lease extension but my freeholder is can not be found. What are my options?

On the basis that 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. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the lessor. On the whole a specialist may be useful to conduct investigations and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Camelford.

My wife and I purchased a leasehold house in Camelford. Conveyancing and Birmingham Midshires mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Camelford who acted for me is not around.What should I do?

First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to incur the fees of a Camelford conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of maisonettes in Camelford both have in the region of fifty years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Camelford is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. 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 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 a residence 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 Camelford 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.

Can you offer any advice when it comes to choosing a Camelford conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Camelford conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Camelford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If the firm is not ALEP accredited then what is the reason?
• How many lease extensions have they carried out in Camelford in the last year?

If all goes to plan we aim to complete the sale of our £ 275000 maisonette in Camelford next Wednesday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Camelford?

Camelford conveyancing on leasehold flats normally necessitates the purchaser’s conveyancer sending questions for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be content to do so. They are entitled levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded should you wish to sell the property.

Leasehold Conveyancing in Camelford - A selection of Queries Prior to Purchasing

Are there any major works on the horizon that could increase the service costs?