I only have 72 years remaining on my flat in Gosforth. I now wish to get lease extension but my freeholder is missing. What should I do?

If you meet the appropriate requirements, 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 enable the lease to be extended by the Court. However, you will be required to prove that you have used your best endeavours to locate the landlord. For most situations a specialist should be helpful to try and locate and prepare an expert document to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Gosforth.

I own a leasehold house in Gosforth. Conveyancing and HSBC Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Gosforth who acted for me is not around.What should I do?

First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Gosforth conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Gosforth which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes 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 enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I am employed by a reputable estate agency in Gosforth where we have witnessed a few leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local Gosforth conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension process 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 has to be done prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

What are your top tips when it comes to appointing a Gosforth conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Gosforth conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Gosforth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• What volume of lease extensions has the firm carried out in Gosforth in the last 12 months?

Gosforth Conveyancing for Leasehold Flats - Sample of Queries before buying

What is the name of the managing agents? In the main the outlay for major works are not included within maintenance charges, although some managing agents in Gosforth require tenants to pay into a reserve fund created for the specific intention of establishing a fund for major works. Is there a share of the freehold?

Other Topics

Lease Extensions in Gosforth