I have recently realised that I have 62 years unexpired on my flat in Hornsea. I now want to get lease extension but my freeholder is absent. 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 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 prove that you or your lawyers have done all that could be expected to locate the landlord. In some cases a specialist may be helpful to try and locate and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Hornsea.

I have just appointed agents to market my ground floor flat in Hornsea.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Hornsea. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Hornsea are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Hornsea in which case you should be shopping around for a Hornsea conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being 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 freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of apartments in Hornsea which have about 50 years left on the lease term. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

What are the common defects that you see in leases for Hornsea properties?

There is nothing unique about leasehold conveyancing in Hornsea. All leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Hornsea Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

The majority of Hornsea leasehold apartments will be liable to pay a service bill for the upkeep of the building set on behalf of the freeholder. Where you purchase the property you will have to meet this charge, usually in instalments during the year. This could vary from several hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant sum, say approximately £50-£100 but you need to check it because occasionally it can be surprisingly expensive. Generally speaking the outlay for major works are not included within maintenance charges, albeit that some managing agents in Hornsea require tenants to pay into a reserve fund created for the specific intention of establishing a fund for major works.