There are only Fifty years unexpired on my flat in Gunnislake. I need to extend my lease but my landlord is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to track down the lessor. In some cases a specialist would be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court covering Gunnislake.

I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Gunnislake. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Gunnislake ?

Most houses in Gunnislake are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Gunnislake in which case you should be looking for a Gunnislake conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

My wife and I purchased a leasehold house in Gunnislake. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Gunnislake who previously acted has now retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Gunnislake conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a two maisonettes in Gunnislake both have approximately fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Gunnislake is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 property 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 Gunnislake 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 the agreed 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £ 350000 flat in Gunnislake next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Gunnislake?

Gunnislake conveyancing on leasehold maisonettes normally necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be willing to do so. They may levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Leasehold Conveyancing in Gunnislake - A selection of Questions you should consider Prior to Purchasing

Who is in charge of the building?