I only have Fifty years unexpired on my flat in Ferryside. I now want to extend my lease but my freeholder is missing. 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 Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. For most situations a specialist would be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Ferryside.

Expecting to complete next month on a studio apartment in Ferryside. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

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

• The total extent of the property. This will be the apartment itself but could also incorporate a roof space or basement if appropriate.

Last month I purchased a leasehold flat in Ferryside. Am I liable to pay 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. 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 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).

If all goes to plan we aim to complete our sale of a £175000 maisonette in Ferryside next week. The management company has quoted £372 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Ferryside?

Ferryside conveyancing on leasehold apartments usually requires the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is in excess of £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.

In relation to leasehold conveyancing in Ferryside what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Ferryside. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Bank of Scotland, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Ferryside Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

Is the freehold owned collectively by the tenants? Its a good idea to find out as much as you can concerning the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the cleanliness of the communal areas. Ask other tenants whether they are happy with their service. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes. This information is useful as a) areas could cause problems for the block as the common areas may begin to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have all the details

Other Topics

Lease Extensions in Ferryside