Frequently asked questions relating to Caversham leasehold conveyancing
Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Caversham. I need to get lease extension but my landlord is missing. What should I do?
If 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 granted an extra 90 years by the Court. You will be obliged to prove that you have done all that could be expected to locate the landlord. In some cases an enquiry agent would be useful to try and locate and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Caversham.
Planning to sign contracts shortly on a ground floor flat in Caversham. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Caversham should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Caversham. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Caversham ?
The majority of houses in Caversham are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Caversham so you should seriously consider looking for a Caversham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should appraise you on the various issues.
I own a leasehold flat in Caversham. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Caversham who acted for me is not around.What should I do?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Caversham conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of maisonettes in Caversham which have in the region of fifty years left on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena
Caversham Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
How much is the maintenance charge and ground rent on the flat?
Does the lease include onerous restrictions?
How is the lease structured?