Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Kingstanding. I need to get lease extension but my freeholder is absent. What options are available to me?

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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the lessor. In some cases a specialist would be helpful to carry out a search and prepare an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court covering Kingstanding.

Expecting to sign contracts shortly on a leasehold property in Kingstanding. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Kingstanding should include some of the following:

• You should be sent a copy of the lease

I own a leasehold house in Kingstanding. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Kingstanding who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Kingstanding conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of apartments in Kingstanding which have about 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Kingstanding is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kingstanding conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to choosing a Kingstanding conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Kingstanding conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Kingstanding conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• If the firm is not ALEP accredited then why not?

Kingstanding Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing

Does this lease have more than 80 years left? The prefered form of lease arrangement is a share of the freehold. In this arrangement the lessees enjoy being in charge if their destiny and although a managing agent is usually retained if it is larger than a house conversion, the managing agent is directed by the tenants. This information is important as a) areas could cause problems for the building as the communal areas may start to deteriorate if repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will wish to have all the details

Other Topics

Lease Extensions in Kingstanding