I have recently realised that I have Seventy years unexpired on my flat in Hurst Green. I am keen to get lease extension but my freeholder is missing. What should I do?

If you meet the appropriate requirements, 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 enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the lessor. On the whole an enquiry agent should be useful to conduct investigations and prepare a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Hurst Green.

I am hoping to exchange soon on a leasehold property in Hurst Green. Conveyancing lawyers inform me that they are sending me a report next week. What should I be looking out for?

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

• You should receive a copy of the lease

I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Hurst Green. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Hurst Green 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 Hurst Green so you should seriously consider shopping around for a Hurst Green conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will report to you on the legal implications.

I've recently bought a leasehold house in Hurst Green. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

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

There is nothing unique about leasehold conveyancing in Hurst Green. Most leases are individual and drafting errors can result in certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• 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 primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Skipton Building Society, and Platform Home Loans Ltd 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 defective they may refuse to provide security, forcing the purchaser to pull out.

I own a basement flat in Hurst Green, conveyancing having been completed 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Hurst Green with an extended lease are worth £226,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease terminates on 21st October 2098

With just 73 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Hurst Green