There are only 62 years unexpired on my flat in Faringdon. I now wish to get lease extension but my landlord is can not be found. What are my options?

If 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. In some cases an enquiry agent should be useful to carry out a search and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Faringdon.

I’m about to sell my basement apartment in Faringdon.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – Do I pay up?

It best that you pay the invoice 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've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Faringdon. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Faringdon are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Faringdon in which case you should be looking for a Faringdon conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As 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 conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

I've recently bought a leasehold house in Faringdon. Am I liable to pay service charges relating to a period prior to my ownership?

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 be sure 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 advice for leasehold conveyancing in Faringdon with the purpose of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Faringdon can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• Many landlords or Management Companies in Faringdon levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Faringdon.

I acquired a split level flat in Faringdon, conveyancing was carried out in 2004. How much will my lease extension cost? Similar properties in Faringdon with a long lease are worth £209,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2098

With 73 years unexpired we estimate the premium for your lease extension to range between £11,400 and £13,200 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

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Lease Extensions in Faringdon