Having checked my lease I have discovered that there are only 62 years left on my flat in Elmstead. I am keen 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 lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations an enquiry agent should be helpful to try and locate and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Elmstead.

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Elmstead. Conveyancing advisers have not yet been instructed. Will they explain the issues?

The majority of houses in Elmstead are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Elmstead in which case you should be looking for a Elmstead conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.

My wife and I purchased a leasehold house in Elmstead. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Elmstead who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Elmstead conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in Elmstead both have about fifty years unexpired on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Elmstead is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and mortgage companies, 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 property 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 Elmstead 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 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.

Do you have any top tips for leasehold conveyancing in Elmstead with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Elmstead can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ lawyers.
• If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Elmstead state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Should you dont have the paperwork in place do not communicate with the landlord without contacting your conveyancer before hand.
• A minority of Elmstead leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.
• If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Elmstead home move. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

I have given up negotiating a lease extension in Elmstead. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most certainly. We are happy to put you in touch with a Elmstead conveyancing firm who can help.

An example of a Lease Extension case for a Elmstead premises is 70 Andace Park Gardens 133-149 Widmore Road in November 2013. Tribunal determined that the premium payable for the lease extension was £10,052 This case was in relation to 1 flat. The remaining number of years on the lease was 72 years.

Elmstead Leasehold Conveyancing - Sample of Queries before Purchasing

Most Elmstead leasehold apartments will incur a service charge for the upkeep of the building invoiced on behalf of the management company. Where you purchase the flat you will have to pay this amount, normally in instalments during the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent to be met annual, this is usually not a large amount, say about £25-£75 but you need to enquire it because sometimes it can be prohibitively expensive. The answer will be useful as a) areas can result in problems in the building as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have full disclosure