Having checked my lease I have discovered that there are only 62 years remaining on my flat in Croston. I need to get lease extension but my landlord is can not be found. What should I do?

If you meet the appropriate requirements, 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 Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. On the whole an enquiry agent would be useful to conduct investigations and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Croston.

I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Croston. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Croston ?

Most houses in Croston are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Croston in which case you should be shopping around for a Croston conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.

I am tempted by the attractive purchase price for a two maisonettes in Croston both have approximately fifty years left on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Croston is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of buyers and banks, leases with under eighty years become less and less marketable. On a more positive 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 Croston 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.

Completion in due on our sale of a £500000 apartment in Croston next week. The management company has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Croston?

Croston conveyancing on leasehold apartments often necessitates the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be willing to do so. They are at liberty levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

What are the frequently found deficiencies that you see in leases for Croston properties?

Leasehold conveyancing in Croston is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and Barclays Direct all have very detailed requirements 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, forcing the buyer to withdraw.

Croston Leasehold Conveyancing - Examples of Queries before buying

Are any of leasehold owners in dispute over their service charge payments? Best to be warned if fixing the lift or some other significant cost is anticipated to be shared between the tenants and will dramatically impact the level of the service charges or require a one off payment. Who are the managing agents?

Other Topics

Lease Extensions in Croston