I have recently realised that I have Seventy years left on my flat in Charmouth. I am keen to extend my lease but my freeholder is absent. 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 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 Court. However, you will be required to prove that you have made all reasonable attempts to locate the landlord. In some cases an enquiry agent would be helpful to try and locate and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Charmouth.

I am hoping to complete next month on a basement flat in Charmouth. Conveyancing solicitors assured me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Charmouth should include some of the following:

• How long the lease is 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 attracted to a two maisonettes in Charmouth which have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Charmouth is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 property 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 Charmouth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

What are your top tips when it comes to finding a Charmouth conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Charmouth 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 several firms including non Charmouth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If the firm is not ALEP accredited then why not?

What are the common defects that you see in leases for Charmouth properties?

Leasehold conveyancing in Charmouth is not unique. All leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Barnsley Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Charmouth Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying

This information is useful as a) areas could cause problems in the block as the communal areas may start to deteriorate where maintenance are not paid for b) if the leaseholders have an issue with the running of the building you will need to have all the details Is there a share of the freehold? Plenty Charmouth leasehold flats will have a service charge for the upkeep of the block levied on behalf of the freeholder. Where you buy the property you will have to pay this liability, normally in instalments during the year. This may be anything from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a rentcharge to be met annual, normally this is not a significant amount, say approximately £50-£100 but you should to check as occasionally it can be many hundreds of pounds.

Other Topics

Lease Extensions in Charmouth