I own a leasehold house in Laindon. Conveyancing and Virgin Money mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Laindon who acted for me is not around.What should I do?

First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Laindon conveyancing practitioner to do this as it can be done on-line for £3. You should note 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 attracted to a couple of apartments in Laindon which have approximately fifty years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Laindon is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under 75 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 premises 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 Laindon 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 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.

I am employed by a busy estate agency in Laindon where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Laindon conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?

As long as the seller has owned the lease 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 buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 your top tips when it comes to choosing a Laindon conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Laindon conveyancing practice) it is most important that they 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 Laindon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

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

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £125000 garden flat in Laindon next week. The landlords agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Laindon?

Laindon conveyancing on leasehold apartments more often than not involves the purchaser’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be content to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.

Laindon Conveyancing for Leasehold Flats - Examples of Queries before buying

Who manages the building? It would be sensible to discover if there are any onerous prohibitions in the lease. For example some leases prohibit pets being allowed in in a block in Laindon. If you like the apartmentin Laindon however your cat can’t move with you then you will be faced difficult decision. It would be wise to discover as much as possible about the managing agents as they will either make life much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the communal areas. Ask other tenants what they think of their management. In conclusion, be sure you know the dates that you are obliged pay the service charge to the relevant party and specifically what you get for your money.

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Lease Extensions in Laindon