There are only 72 years left on my flat in Holsworthy. I need to get lease extension but my freeholder is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the landlord. On the whole an enquiry agent should be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Holsworthy.

Due to exchange soon on a basement flat in Holsworthy. Conveyancing lawyers inform me that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Holsworthy should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Does the lease require carpeting throughout thus preventing wood flooring?
• Are pets allowed in the flat?
• Does the lease prevent you from subletting the property, or having a home office for business
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Responsibility for repairing the window frames

I am attracted to a two flats in Holsworthy which have approximately forty five years left on the leases. Will this present a problem?

There are plenty of short leases in Holsworthy. The lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a long established estate agency in Holsworthy where we see a number of leasehold sales derailed due to short leases. I have received inconsistent advice from local Holsworthy conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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. The benefit of this is that the proposed purchaser 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 has to be done prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

In relation to leasehold conveyancing in Holsworthy what are the most common lease problems?

Leasehold conveyancing in Holsworthy is not unique. All leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements 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. Lloyds TSB Bank, Skipton Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

Holsworthy Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

Is anyone aware of any major works in the planning that will likely add a premium to the service costs? For many Holsworthy leaseholds the outlay for major works tend not to be included within service charges, albeit that a few managing agents in Holsworthy obliged leaseholders to pay into a reserve fund created for the specific purpose of establishing a fund for larger works. Best to be warned whether redecorating or some other significant cost is pending that will be shared by the tenants and could well materially impact the level of the service fees or result in a one off invoice.