I only have Seventy years unexpired on my flat in Gosport. I now want to get lease extension but my landlord is can not be found. What options are available to me?

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 lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the landlord. In some cases an enquiry agent should be helpful to try and locate and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Gosport.

I have just started marketing my 2 bed flat in Gosport.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 managing agents will not acknowledge the buyer unless 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 appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Gosport. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Gosport ?

Most houses in Gosport are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Gosport so you should seriously consider looking for a Gosport conveyancing solicitor and be sure that they have experience in transacting 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 to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am looking at a couple of maisonettes in Gosport which 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 Gosport. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Can you offer any advice when it comes to finding a Gosport conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Gosport conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Gosport conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If the firm is not ALEP accredited then why not?

I purchased a split level flat in Gosport, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Gosport with over 90 years remaining are worth £235,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2104

With 79 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

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Lease Extensions in Gosport