I am on look out for some leasehold conveyancing in Chadwell St Mary. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Chadwell St Mary - 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.

There are only 72 years unexpired on my lease in Chadwell St Mary. I need to extend my lease but my landlord is missing. What should I do?

On the basis that 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 lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to find the lessor. In some cases a specialist would be useful to conduct investigations and prepare a report to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Chadwell St Mary.

I’m about to sell my ground floor flat in Chadwell St Mary.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of apartments in Chadwell St Mary which have about 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Chadwell St Mary. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a reputable estate agent office in Chadwell St Mary where we have experienced a number of flat sales jeopardised due to short leases. I have received contradictory information from local Chadwell St Mary conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Chadwell St Mary Conveyancing for Leasehold Flats - A selection of Queries before buying

Who takes responsibility for maintaining and repairing the block? Can you inform me if there are any major works in the planning that will add a premium to the service costs? Many Chadwell St Mary leasehold apartments will incur a service bill for the upkeep of the building levied by the freeholder. Should you purchase the property you will have to pay this amount, normally quarterly accross the year. This may be anything from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent for you to pay yearly, this is usually not a significant sum, say about £25-£75 but you need to enquire it because on occasion it can be surprisingly expensive.

Other Topics

Lease Extensions in Chadwell St Mary