I only have Seventy years left on my flat in Eastcote. I need to get lease extension but my landlord is missing. What should I do?

On the basis that 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 granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. In some cases an enquiry agent may be useful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court covering Eastcote.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Eastcote. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

The majority of houses in Eastcote 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 Eastcote in which case you should be looking for a Eastcote conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will report to you on the legal implications.

I am looking at a two flats in Eastcote which have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Eastcote 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 premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat 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 premises 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 Eastcote 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.

Last month I purchased a leasehold flat in Eastcote. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

All being well we will complete our sale of a £200000 maisonette in Eastcote next Thursday . The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Eastcote?

Eastcote conveyancing on leasehold maisonettes more often than not involves the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to assist. They are at liberty charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to sell the property.

I have given up trying to purchase the freehold in Eastcote. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to assess the price.

An example of a Lease Extension case for a Eastcote residence is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case was in relation to 1 flat. The unexpired lease term was 53.26 years.

Other Topics

Lease Extensions in Eastcote