There are only 62 years unexpired on my flat in Danescourt. I now want 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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court covering Danescourt.

I am hoping to exchange soon on a ground floor flat in Danescourt. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Danescourt should include some of the following:

• You should be sent a copy of the lease

I’m about to sell my 2 bed apartment in Danescourt.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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 am employed by a reputable estate agent office in Danescourt where we see a few flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Danescourt conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has been the owner 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 buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 purchaser.

What makes a Danescourt lease unmortgageable?

Leasehold conveyancing in Danescourt is not unique. Most leases is drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• 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 a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Nottingham Building Society 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 pull out.

I own a 1 bedroom flat in Danescourt, conveyancing was carried out in 2007. How much will my lease extension cost? Similar properties in Danescourt with an extended lease are worth £205,000. The ground rent is £50 per annum. The lease expires on 21st October 2093

With 69 years remaining on your lease we estimate the premium for your lease extension to range between £8,600 and £9,800 plus legals.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Danescourt