Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Chepstow. I am keen to extend my lease but my landlord is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. For most situations a specialist may be useful to conduct investigations and to produce an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Chepstow.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Chepstow. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Chepstow ?

The majority of houses in Chepstow are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Chepstow in which case you should be shopping around for a Chepstow conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

I am attracted to a two maisonettes in Chepstow which have approximately forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Chepstow. The lease is a right to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold flat in Chepstow. Do I have any liability for service charges for periods before completion of my purchase?

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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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 advice can you give us when it comes to appointing a Chepstow conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Chepstow conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Chepstow 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:

• How experienced is the practice with lease extension legislation?

Chepstow Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying

How much is the maintenance charge and ground rent on the apartment? The majority of Chepstow leasehold properties will be liable to pay a service bill for maintenance of the building invoiced by the landlord. Should you acquire the flat you will have to meet this contribution, normally quarterly during the year. This may be anything from two or three hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a rentcharge for you to pay yearly, this is usually not a large amount, say about £50-£100 but you need to check it because sometimes it could be surprisingly expensive. It would be wise to discover if there are any onerous prohibitions in the lease. For example some leases prohibit pets being allowed in in a block in Chepstow. If you like the apartmentin Chepstow but your dog is not allowed to make the move with you then you will be faced hard compromise.

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Lease Extensions in Chepstow