I only have Fifty years left on my flat in Aldborough Hatch. I now wish to extend my lease but my freeholder is absent. What are my options?

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 for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. On the whole a specialist may be helpful to carry out a search and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Aldborough Hatch.

I’m about to sell my basement apartment in Aldborough Hatch.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you clear 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 until 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. This will smooth the conveyancing process.

I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Aldborough Hatch. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Aldborough Hatch ?

The majority of houses in Aldborough Hatch are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Aldborough Hatch so you should seriously consider shopping around for a Aldborough Hatch conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will advise you fully on all the issues.

I am attracted to a couple of apartments in Aldborough Hatch which have about fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Aldborough Hatch is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, 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 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 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 Aldborough Hatch 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 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 are your top tips when it comes to finding a Aldborough Hatch conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Aldborough Hatch conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Aldborough Hatch conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• If they are not ALEP accredited then what is the reason?

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Aldborough Hatch conveyancing firm to represent me?

if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the amount due.

An example of a Lease Extension matter before the tribunal for a Aldborough Hatch flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The the unexpired residue of the current lease was 61.36 years.