Having checked my lease I have discovered that there are only Seventy years left on my flat in Caversham Heights. I need to extend my lease but my landlord 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. In some cases an enquiry agent would be useful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court covering Caversham Heights.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Caversham Heights. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Caversham Heights are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Caversham Heights so you should seriously consider shopping around for a Caversham Heights conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold property in Caversham Heights. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to finding a Caversham Heights conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Caversham Heights conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Caversham Heights conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• If they are not ALEP accredited then why not?

What makes a Caversham Heights lease unmortgageable?

Leasehold conveyancing in Caversham Heights is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Mortgage Works, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

Caversham Heights Leasehold Conveyancing - Sample of Queries Prior to buying

How much is the maintenance charge and ground rent on the apartment? Be sure to find out if there is anything that is prohibited in the lease. By way of example it is fairly common in Caversham Heights leases that pets are not permitted in in a block in Caversham Heights. If you like the propertyin Caversham Heights but your cat is not allowed to move with you then you will be faced hard compromise. Most Caversham Heights leasehold properties will have a service bill for the upkeep of the building set on behalf of the landlord. Should you acquire the apartment you will have to pay this amount, normally quarterly throughout the year. This may vary from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a ground rent to be met yearly, ordinarily this is not a exorbitant sum, say around £25-£75 but you should to check as occasionally it can be surprisingly expensive.

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Lease Extensions in Caversham Heights