I am on look out for some leasehold conveyancing in Kings Lynn. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Kings Lynn - then the leasehold title will always include the short particulars 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.

Having checked my lease I have discovered that there are only Fifty years unexpired on my flat in Kings Lynn. I am keen to get lease extension but my freeholder is absent. What should I do?

On the basis that 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the freeholder. For most situations an enquiry agent should be helpful to try and locate and to produce an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Kings Lynn.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Kings Lynn. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Kings Lynn are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Kings Lynn in which case you should be shopping around for a Kings Lynn conveyancing solicitor and be sure 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 leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I work for a busy estate agent office in Kings Lynn where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Kings Lynn conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner 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 proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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.

What are the frequently found problems that you see in leases for Kings Lynn properties?

Leasehold conveyancing in Kings Lynn is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• 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

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Alliance & Leicester all have express 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, obliging the purchaser to withdraw.

I inherited a garden flat in Kings Lynn, conveyancing having been completed in 2007. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Kings Lynn with an extended lease are worth £179,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2079

With only 54 years remaining on your lease we estimate the price of your lease extension to span between £32,300 and £37,400 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Kings Lynn