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Colsterworth leasehold conveyancing Example Support Desk Enquiries

There are only 62 years left on my lease in Colsterworth. I now want to get lease extension but my landlord is can not be found. What are my options?

If 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 enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. In some cases an enquiry agent would be helpful to conduct investigations and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Colsterworth.

Looking forward to sign contracts shortly on a basement flat in Colsterworth. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the flat itself but could also include a loft or cellar if appropriate.
  • Defining your legal entitlements in respect of the communal areas in the building.E.G., does the lease provide for a right of way over a path or staircase?
  • Will you be prohibited or prevented from having pets in the property?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be contained in your report on your leasehold property in Colsterworth please ask your solicitor in advance of your conveyancing in Colsterworth

    • I am looking at a couple of apartments in Colsterworth both have about fifty years unexpired on the leases. Will this present a problem?

    A lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

    Can you offer any advice when it comes to appointing a Colsterworth conveyancing firm to deal with our lease extension?

    When appointing a solicitor for lease extension works (regardless if they are a Colsterworth conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Colsterworth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • Can they put you in touch with client in Colsterworth who can give a testimonial?
  • What are the charges for lease extension conveyancing?

    • Can you provide any top tips for leasehold conveyancing in Colsterworth from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Colsterworth can be bypassed if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers lawyers.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Colsterworth state that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you fail to have the paperwork in place you should not contact the landlord without contacting your lawyer before hand.
  • A minority of Colsterworth leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share certificate. Organising a new share certificate is often a lengthy formality and frustrates many a Colsterworth conveyancing deal. Where a reissued share is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.

    • I inherited a studio flat in Colsterworth, conveyancing having been completed 9 years ago. How much will my lease extension cost? Equivalent flats in Colsterworth with a long lease are worth £260,000. The ground rent is £60 invoiced annually. The lease expires on 21st October 2097

    With only 72 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.

    The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Colsterworth