Having had my offer accepted I require leasehold conveyancing in Crawcrook and Ryton. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Crawcrook and Ryton - then the leasehold title will always include the basic details 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 only have 72 years left on my flat in Crawcrook and Ryton. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the landlord. In some cases an enquiry agent would be useful to try and locate and prepare an expert document to be used 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 application to the County Court covering Crawcrook and Ryton.

I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Crawcrook and Ryton. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Crawcrook and Ryton are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Crawcrook and Ryton in which case you should be looking for a Crawcrook and Ryton conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.

I own a leasehold house in Crawcrook and Ryton. Conveyancing and Birmingham Midshires mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Crawcrook and Ryton who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Crawcrook and Ryton conveyancing practitioner to do this as it can be done on-line for £3. 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 attracted to a two flats in Crawcrook and Ryton which have about fifty years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Crawcrook and Ryton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most purchasers and mortgage companies, leases with under 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 property 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 a residence 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 Crawcrook and Ryton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 the agreed 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.

Leasehold Conveyancing in Crawcrook and Ryton - Sample of Questions you should consider Prior to buying

Is there a share of the freehold? The best form of lease structure is a share of the freehold. In this arrangement the lessees have being in charge if their destiny and although a managing agent is frequently retained where it is bigger than a house conversion, the managing agent is directed by the tenants. You should want to find out as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the common parts. You should not be shy to ask prospective neighbours if they are happy with their management. On a final note, be sure you understand the dates that you are obliged pay the service charge to the managing agents and specifically what it includes.

Other Topics

Lease Extensions in Crawcrook and Ryton