There are only Seventy years unexpired on my flat in Cross Keys. I now want to get lease extension but my landlord is missing. What options are available to me?

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 extended by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the lessor. For most situations a specialist should be useful to try and locate and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Cross Keys.

I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Cross Keys. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Cross Keys are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Cross Keys in which case you should be looking for a Cross Keys conveyancing practitioner 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 lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer will report to you on the legal implications.

Back In 2000, I bought a leasehold flat in Cross Keys. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Cross Keys who acted for me is not around.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to instruct a Cross Keys conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of flats in Cross Keys both have about 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Cross Keys is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of buyers and mortgage companies, leases with less than eighty 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 Cross Keys 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

What are the frequently found defects that you witness in leases for Cross Keys properties?

There is nothing unique about leasehold conveyancing in Cross Keys. All leases are individual and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• 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

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Mortgage Works, and Bank of Ireland 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 grant the mortgage, forcing the purchaser to withdraw.

Leasehold Conveyancing in Cross Keys - A selection of Queries Prior to Purchasing

What prohibitions are contained in the Cross Keys Lease? The majority of Cross Keys leasehold apartments will be liable to pay a service charge for the upkeep of the block invoiced by the management company. Should you buy the flat you will have to meet this charge, usually quarterly accross the year. This may differ from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge to be met annual, ordinarily this is not a significant amount, say about £25-£75 but you should to check as on occasion it could be prohibitively expensive.