I am on look out for some leasehold conveyancing in Castle Cary. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Castle Cary - 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.

My partner and I may need to sub-let our Castle Cary basement flat for a while due to a new job. We instructed a Castle Cary conveyancing practice in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

A lease governs relations between the landlord and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Castle Cary do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

There are only Sixty One years remaining on my lease in Castle Cary. I am keen to get lease extension but my freeholder is missing. What options are available to me?

If you qualify, 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 granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Castle Cary.

I am tempted by the attractive purchase price for a two apartments in Castle Cary both have about forty five years unexpired on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

Can you offer any advice when it comes to finding a Castle Cary conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Castle Cary conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Castle Cary conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?

Castle Cary Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

For most Castle Cary leaseholds the outlay for major works are not included within maintenance charges, albeit that some managing agents in Castle Cary require tenants to pay into a sinking fund and this is used to offset against major repairs or maintenance. Be sure to find out if there are any onerous restrictions in the lease. For example some leases prohibit pets being allowed in certain buildings in Castle Cary. If you like the flatin Castle Cary however your cat can’t make the move with you then you will be faced hard decision. Please inform me if there are any major works in the near future that will likely increase the service costs?

Other Topics

Lease Extensions in Castle Cary