Having had my offer accepted I require leasehold conveyancing in Fenstanton. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Fenstanton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

There are only 68 years remaining on my flat in Fenstanton. I am keen to get lease extension but my freeholder is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. For most situations a specialist should be useful to try and locate and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Fenstanton.

Expecting to complete next month on a basement flat in Fenstanton. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

• The physical extent of the demise. This will be the property itself but might incorporate a roof space or basement if applicable.

My wife and I purchased a leasehold flat in Fenstanton. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Fenstanton who previously acted has long since retired.Any advice?

First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Fenstanton conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of maisonettes in Fenstanton both have about forty five years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Fenstanton is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat 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 a residence 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 Fenstanton 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

Fenstanton Leasehold Conveyancing - A selection of Queries Prior to Purchasing

How is the lease structured? The answer will be helpful as a) areas could cause problems in the block as the common areas may start to deteriorate if services are not paid for b) if the leasehold owners have an issue with the running of the building you will need to have all the details The best form of lease arrangement is a share of the freehold. In this scenario the leaseholders enjoy control and although a managing agent is usually employed if the building is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Fenstanton