Fixed-fee leasehold conveyancing in Forestdale:

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Forestdale leasehold conveyancing Example Support Desk Enquiries

Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Forestdale. I am keen to extend my lease but my freeholder is can not be found. What options are available to me?

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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the landlord. On the whole an enquiry agent may be helpful to conduct investigations and prepare a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Forestdale.

I am tempted by the attractive purchase price for a couple of maisonettes in Forestdale both have about 50 years unexpired on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Forestdale is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less attractive. 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 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 Forestdale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 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.

Last month I purchased a leasehold house in Forestdale. Do I have any liability for service charges relating to a period prior to my ownership?

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. Strange as it may seem, 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).

Can you offer any advice when it comes to appointing a Forestdale conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Forestdale conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Forestdale conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Forestdale who can give a testimonial?

  • Do you have any advice for leasehold conveyancing in Forestdale from the perspective of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Forestdale can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers lawyers.
    • Some Forestdale leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You may have to bite the bullet and pay 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 will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a lengthy formality and delays many a Forestdale conveyancing transaction. If a duplicate share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 75 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Forestdale. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

    An example of a Freehold Enfranchisement decision for a Forestdale premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The the unexpired term as at the valuation date was 78.32 years.

    Other Topics

    Lease Extensions in Forestdale