There are only Seventy years left on my lease in Cholsey. I need to get lease extension 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 apply 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 magistrate. However, you will be required to prove that you have done all that could be expected to locate the freeholder. In some cases an enquiry agent may be helpful to carry out a search and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Cholsey.

I've recently bought a leasehold flat in Cholsey. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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 appointing a Cholsey conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Cholsey conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Cholsey 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 of use:

• If they are not ALEP accredited then why not?

Can they put you in touch with client in Cholsey who can give a testimonial?

Can you provide any top tips for leasehold conveyancing in Cholsey from the point of view of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Cholsey can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or Management Companies in Cholsey levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Cholsey.

If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.

If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a time consuming process and delays many a Cholsey conveyancing deal. Where a duplicate share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

All being well we will complete the disposal of our £400000 maisonette in Cholsey in just under a week. The landlords agents has quoted £312 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Cholsey?

For most leasehold sales in Cholsey conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-contract enquiries
• Where consent is required before sale in Cholsey
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Cholsey leasehold property is £350. For Cholsey conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

I invested in buying a 1st floor flat in Cholsey, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Cholsey with over 90 years remaining are worth £242,000. The average or mid-range amount of ground rent is £65 per annum. The lease ends on 21st October 2080

You have 54 years left to run the likely cost is going to be between £30,400 and £35,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Cholsey