I own a leasehold house in Kirkby Lonsdale. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received 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 1994. The conveyancing solicitor in Kirkby Lonsdale who previously acted has now retired.Do I pay?

First contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Kirkby Lonsdale conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two flats in Kirkby Lonsdale both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Kirkby Lonsdale 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 salability of the property. For most purchasers and lenders, leases with less than eighty years become less and less marketable. On a more positive 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 a residence 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 Kirkby Lonsdale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

What advice can you give us when it comes to appointing a Kirkby Lonsdale conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Kirkby Lonsdale conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Kirkby Lonsdale conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

• If the firm is not ALEP accredited then what is the reason?

Can they put you in touch with client in Kirkby Lonsdale who can give a testimonial?

Completion in due on the sale of our £300000 garden flat in Kirkby Lonsdale next week. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Kirkby Lonsdale?

Kirkby Lonsdale conveyancing on leasehold maisonettes normally involves fees being invoiced by landlords agents :

• Completing conveyancing due diligence questions
• Where consent is required before sale in Kirkby Lonsdale
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Kirkby Lonsdale leasehold property is £350. For Kirkby Lonsdale conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

Are there frequently found deficiencies that you encounter in leases for Kirkby Lonsdale properties?

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

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter 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. National Westminster Bank, Coventry Building Society, and Britannia 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 grant the mortgage, obliging the buyer to withdraw.

I purchased a leasehold flat in Kirkby Lonsdale, conveyancing having been completed 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Kirkby Lonsdale with over 90 years remaining are worth £220,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2078

With 53 years unexpired we estimate the price of your lease extension to range between £34,200 and £39,600 as well as costs.

The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. 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 considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Kirkby Lonsdale