Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Eastwood. I am keen to get lease extension but my landlord is absent. What should I do?

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 Court. You will be obliged to prove that you have made all reasonable attempts to locate the landlord. In some cases a specialist would be helpful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Eastwood.

I've found a house that appears to be perfect, at a great figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Eastwood. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Eastwood ?

Most houses in Eastwood are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Eastwood in which case you should be looking for a Eastwood conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should report to you on the legal implications.

I am tempted by the attractive purchase price for a two apartments in Eastwood both have in the region of fifty years unexpired on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

I work for a busy estate agency in Eastwood where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Eastwood conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 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 disposal of the property.

An alternative approach is 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 purchaser.

We expect to complete our sale of a £200000 maisonette in Eastwood in 10 days. The freeholder has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Eastwood?

Eastwood conveyancing on leasehold flats more often than not necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to complete the sale of your home.

Eastwood Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

Is there a share of the freehold? Make sure you enquire if there is anything that is prohibited in the lease. For example it is fairly common in Eastwood leases that pets are not allowed in in a block in Eastwood. If you like the propertyin Eastwood however your cat is not allowed to move with you then you will be faced difficult determination. Many Eastwood leasehold properties will have a service charge for the upkeep of the building invoiced by the freeholder. Where you buy the apartment you will have to pay this liability, normally periodically throughout the year. This may vary from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a ground rent for you to pay annual, normally this is not a exorbitant amount, say about £25-£75 but you should to check it because sometimes it can be prohibitively expensive.

Other Topics

Lease Extensions in Eastwood