I have recently realised that I have 72 years unexpired on my lease in Cullompton. I now wish to extend my lease but my freeholder is missing. What should I do?

On the basis that you qualify, 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 magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the lessor. In some cases an enquiry agent should be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Cullompton.

I’m about to sell my basement apartment in Cullompton.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge invoice – what should I do?

The sensible thing to do is pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I work for a reputable estate agency in Cullompton where we have experienced a number of flat sales jeopardised as a result of short leases. I have received contradictory information from local Cullompton conveyancing solicitors. Could you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 Cullompton conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Cullompton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Cullompton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the practice with lease extension legislation?

What makes a Cullompton lease unacceptable for security purposes?

Leasehold conveyancing in Cullompton is not unique. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. 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
• 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

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Virgin Money, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Cullompton Leasehold Conveyancing - Examples of Questions you should consider Prior to Purchasing

The best form of lease structure is a share of the freehold. In this arrangement the lessees enjoy control and although a managing agent is often employed where the building is bigger than a house conversion, the managing agent is directed by the tenants. This question is useful as a) areas could cause problems in the building as the common areas may begin to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to know about it Who is in charge of the block?

Other Topics

Lease Extensions in Cullompton