I have recently realised that I have Fifty years unexpired on my lease in Dymock. I need to extend my lease but my landlord is absent. What are my options?

On the basis that you qualify, 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 enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. In some cases a specialist may be useful to try and locate and to produce a report to be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court overseeing Dymock.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Dymock. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Dymock are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Dymock in which case you should be looking for a Dymock conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority 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 for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

I own a leasehold house in Dymock. Conveyancing and Skipton Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Dymock who previously acted has long since retired.What should I do?

The first thing you should do is make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Dymock conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of flats in Dymock which have in the region of fifty years unexpired on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Dymock is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. 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 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 Dymock 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 any new 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.

I've recently bought a leasehold property in Dymock. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Dymock Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

How long is the Lease? It is important to be aware whether window replacement or some other major work is coming up to be shared amongst the tenants and may well materially impact the level of the maintenance charges or result in a one time invoice. For most Dymock leaseholds the cost for major works are not included within service charges, although there some managing agents in Dymock require leaseholders to contribute towards a sinking fund and this is used to offset against larger works.

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Lease Extensions in Dymock