I am in need of some leasehold conveyancing in Headington. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Headington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I only have Fifty years remaining on my flat in Headington. I am keen to get lease extension but my landlord is can not be found. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. On the whole a specialist may be helpful to conduct investigations and prepare an expert document to be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court covering Headington.

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Headington. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Headington are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Headington so you should seriously consider shopping around for a Headington conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am looking at a couple of apartments in Headington both have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Headington. The lease is a right to use the property for a prescribed time frame. As the lease shortens the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area

I am a negotiator for a long established estate agency in Headington where we see a few leasehold sales jeopardised due to short leases. I have received contradictory information from local Headington conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

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.

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

How much is the ground rent and service charge? Generally speaking the cost for major works are not incorporated into the service charges, although a few managing agents in Headington obliged tenants to contribute towards a sinking fund and this is used to offset against major works. How many of the leaseholders are in arrears for their service charge payments?

Other Topics

Lease Extensions in Headington