I only have Sixty One years unexpired on my lease in Lakenheath. I need to get lease extension but my freeholder is can not be found. What should I do?

If you qualify, 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 extended by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the lessor. In some cases an enquiry agent would be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Lakenheath.

I have just started marketing my garden apartment in Lakenheath.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a couple of flats in Lakenheath which have about 50 years left on the lease term. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

Can you provide any advice for leasehold conveyancing in Lakenheath from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Lakenheath can be reduced if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
• A minority of Lakenheath leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.

If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to ongoing.

If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Organising a new share certificate can be a lengthy process and slows down many a Lakenheath conveyancing transaction. If a duplicate share certificate is required, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Completion in due on the sale of our £200000 maisonette in Lakenheath in just under a week. The management company has quoted £408 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Lakenheath?

Lakenheath conveyancing on leasehold flats nine out of ten times results in fees being invoiced by management companies :

• Completing pre-contract enquiries
• Where consent is required before sale in Lakenheath
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Lakenheath leasehold property is £350. For Lakenheath 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.

I bought a basement flat in Lakenheath, conveyancing was carried out half a dozen 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? Comparable flats in Lakenheath with a long lease are worth £240,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2101

With just 76 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Lakenheath