I only have 62 years unexpired on my flat in Haslemere. I need to get lease extension but my landlord is absent. 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 enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. For most situations an enquiry agent should be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court covering Haslemere.

I have just started marketing my 2 bed flat in Haslemere.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

It best that you clear 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Haslemere. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Haslemere ?

Most houses in Haslemere are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Haslemere so you should seriously consider looking for a Haslemere conveyancing practitioner and be sure 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 entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer should report to you on the legal implications.

I am looking at a couple of flats in Haslemere both have about forty five years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold apartment in Haslemere is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and mortgage companies, leases with under 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 premises 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 Haslemere conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

In relation to leasehold conveyancing in Haslemere what are the most frequent lease problems?

Leasehold conveyancing in Haslemere is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

Leasehold Conveyancing in Haslemere - Examples of Questions you should ask Prior to Purchasing

Who are the managing agents? Many Haslemere leasehold properties will have a service bill for the upkeep of the building invoiced by the freeholder. Should you acquire the flat you will have to meet this amount, usually in instalments during the year. This could vary from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. There will also be a ground rent for you to pay annual, this is usually not a significant sum, say approximately £25-£75 but you need to check as sometimes it can be surprisingly expensive. The answer will be helpful as a) areas can result in problems in the block as the common areas may start to deteriorate where repairs remain unpaid b) if the tenants have an issue with the managing agents you will need to know about it

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Lease Extensions in Haslemere