There are only 62 years remaining on my lease in Cookham. I now wish to get lease extension but my freeholder is missing. What are my options?

On the basis that 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 lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to find the landlord. In some cases a specialist would be useful to try and locate and prepare an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Cookham.

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Cookham. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Cookham are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Cookham in which case you should be shopping around for a Cookham conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I've recently bought a leasehold house in Cookham. Do I have any liability for service charges relating to a period prior to 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 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).

Can you offer any advice when it comes to appointing a Cookham conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Cookham conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Cookham conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

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

Are there common defects that you see in leases for Cookham properties?

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

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

I invested in buying a ground floor flat in Cookham, conveyancing having been completed 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Cookham with over 90 years remaining are worth £232,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2079

With only 54 years unexpired we estimate the premium for your lease extension to be between £34,200 and £39,600 plus legals.

The figure 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 the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Cookham