I only have 68 years left on my flat in Cowbridge. I need to extend my lease but my landlord is can not be found. 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. On the whole an enquiry agent should be helpful to carry out a search and prepare a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Cowbridge.

I've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Cowbridge. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in Cowbridge are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Cowbridge so you should seriously consider looking for a Cowbridge conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should advise you fully on all the issues.

I am a negotiator for a reputable estate agent office in Cowbridge where we have experienced a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Cowbridge conveyancing solicitors. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

What are your top tips when it comes to appointing a Cowbridge conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Cowbridge conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Cowbridge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• How many lease extensions have they completed in Cowbridge in the last twenty four months?

What are the common defects that you see in leases for Cowbridge properties?

There is nothing unique about leasehold conveyancing in Cowbridge. Most leases are individual and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts 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

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Barclays Direct 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 grant the mortgage, obliging the buyer to withdraw.

Cowbridge Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing

Where a Cowbridge lease has less than 80 years it will have adverse implications on the marketability of the property. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will probably 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 be required to have been the owner of the property for 24 months before you are eligible to exercise a lease extension. It would be sensible to find out if there is anything that is prohibited in the lease. For instance it is fairly common in Cowbridge leases that pets are not allowed in certain buildings in Cowbridge. If you like the apartmentin Cowbridge however your cat can’t make the move with you then you will be faced hard choice. Who manages the building?

Other Topics

Lease Extensions in Cowbridge