Having checked my lease I have discovered that there are only 72 years remaining on my flat in Corfe Castle. I now wish to extend my lease 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 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 demonstrate that you or your lawyers have done all that could be expected to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Corfe Castle.

Planning to exchange soon on a basement flat in Corfe Castle. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

• You should be sent a copy of the lease

I am tempted by the attractive purchase price for a two maisonettes in Corfe Castle which have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Corfe Castle is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Corfe Castle conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold property in Corfe Castle. Am I liable to pay service charges for periods before my ownership?

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. Strange as it may seem, 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).

If all goes to plan we aim to complete the sale of our £500000 apartment in Corfe Castle on Monday in a week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Corfe Castle?

Corfe Castle conveyancing on leasehold flats normally requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is demanded should you wish to complete the sale of your home.

Corfe Castle Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

How many of the leaseholders are in arrears for their maintenance charge payments? You should want to discover as much as possible about the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to day to day issues like the cleanliness of the communal areas. Enquire of other people what they think of their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. Best to be warned whether a new roof is being installed or some other major work is pending to be shared between the leaseholders and could well dramatically impact the level of the maintenance charges or necessitate a specific invoice.

Other Topics

Lease Extensions in Corfe Castle