I am in need of some leasehold conveyancing in Cotham. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Cotham - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have 62 years unexpired on my lease in Cotham. I now want to extend my lease but my landlord is absent. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. On the whole a specialist may be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Cotham.

My wife and I purchased a leasehold house in Cotham. Conveyancing and Bank of Ireland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Cotham who acted for me is not around.What should I do?

First contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Cotham conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of apartments in Cotham both have approximately forty five years left on the lease term. should I be concerned?

There are plenty of short leases in Cotham. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

In relation to leasehold conveyancing in Cotham what are the most common lease problems?

There is nothing unique about leasehold conveyancing in Cotham. All leases are individual 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 parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

Leasehold Conveyancing in Cotham - A selection of Queries before buying

How many of the leaseholders are in arrears for their maintenance charge payments? You should be aware if it is less than eighty years it will affect the salability of the flat. Check with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the premises for 24 months before you are eligible to extend the lease. Best to be warned whether fixing the lift or some other significant cost is anticipated to be shared amongst the leaseholders and will materially impact the level of the maintenance fees or necessitate a specific payment.

Other Topics

Lease Extensions in Cotham