There are only 72 years remaining on my flat in Edgwarebury. I am keen to extend my lease but my freeholder is missing. What should I do?

If 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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. On the whole an enquiry agent may be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Edgwarebury.

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 would have thought that there are issues purchasing a leasehold house in Edgwarebury. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Edgwarebury ?

Most houses in Edgwarebury are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Edgwarebury in which case you should be shopping around for a Edgwarebury conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution 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 am tempted by the attractive purchase price for a two apartments in Edgwarebury both have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Edgwarebury. The lease is a right to use the premises for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold property in Edgwarebury. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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. However, 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).

Can you provide any top tips for leasehold conveyancing in Edgwarebury with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Edgwarebury can be reduced if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Edgwarebury state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord approving such alterations. Where you dont have the consents in place you should not communicate with the landlord without checking with your conveyancer before hand.

I have given up trying to purchase the freehold in Edgwarebury. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the amount due.

An example of a Freehold Enfranchisement matter before the tribunal for a Edgwarebury residence is 42 Churchill Road in March 2013. The Tribunal determined that the price payable in respect of the acquisition of the freehold of the property as required under the terms of the Court Order dated 21 December 2012, is£26,958 This case related to 1 flat.

Other Topics

Lease Extensions in Edgwarebury