Leasehold Conveyancing in Cookham - Get a Quote from the leasehold experts approved by your lender

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Frequently asked questions relating to Cookham leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years left on my lease in Cookham. I need to extend my lease but my freeholder 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 mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to track down the lessor. For most situations a specialist may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Cookham.

Last month I purchased a leasehold flat in Cookham. 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 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 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).

I work for a reputable estate agent office in Cookham where we have witnessed a few leasehold sales derailed as a result of short leases. I have been given contradictory information from local Cookham conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. 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.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

Can you offer any advice when it comes to finding a Cookham conveyancing practice to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a Cookham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Cookham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How many lease extensions has the firm carried out in Cookham in the last year?
  • Can they put you in touch with client in Cookham who can give a testimonial?

  • What makes a Cookham lease unmortgageable?

    There is nothing unique about leasehold conveyancing in Cookham. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

    Leasehold Conveyancing in Cookham - A selection of Queries Prior to Purchasing

      What prohibitions are there in the Cookham Lease? It would be sensible to discover if there is anything that is prohibited in the lease. For instance it is reasonably common in Cookham leases that pets are not allowed in in a block in Cookham. If you love the propertyin Cookham however your cat can’t move with you then you will be faced difficult determination. How much is the annual service fee and ground rent?

    Other Topics

    Lease Extensions in Cookham