I have recently realised that I have 72 years unexpired on my flat in Cubitt Town. I am keen to get lease extension but my landlord is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. For most situations a specialist should be useful to try and locate and to produce a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Cubitt Town.

I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Cubitt Town. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cubitt Town ?

The majority of houses in Cubitt Town are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Cubitt Town so you should seriously consider shopping around for a Cubitt Town conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should report to you on the legal implications.

I own a leasehold flat in Cubitt Town. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Cubitt Town who previously acted has long since retired.Any advice?

First make enquiries of HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a Cubitt Town conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, 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 two apartments in Cubitt Town which have about fifty years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Cubitt Town is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and lenders, leases with less than eighty years become less and less attractive. 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 Cubitt Town 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 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.

I am the leaseholder of a basement flat in Cubitt Town. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

Absolutely. We are happy to put you in touch with a Cubitt Town conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Cubitt Town residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired lease term was 101.61 years.

Are there common problems that you encounter in leases for Cubitt Town properties?

Leasehold conveyancing in Cubitt Town is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have 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. Barclays , Leeds Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Other Topics

Lease Extensions in Cubitt Town