There are only 62 years remaining on my lease in Hook. I now want to get lease extension but my landlord is can not be found. What options are available to me?

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 an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the lessor. In some cases a specialist should be helpful to carry out a search and prepare an expert document to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Hook.

Planning to complete next month on a studio apartment in Hook. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Hook should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Will you be prohibited or prevented from having pets in the property?
• You should have a good understanding of the insurance provisions
• Repair and maintenance of the flat
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What you can do if a neighbour is in violation of a provision in their lease?

Back In 2002, I bought a leasehold flat in Hook. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Hook who previously acted has long since retired.Any advice?

The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Hook conveyancing solicitor 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Hook which have about 50 years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Hook is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of buyers and banks, 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 Hook 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 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 have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Hook conveyancing firm to assist?

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

An example of a Lease Extension case for a Hook residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.

What makes a Hook lease defective?

Leasehold conveyancing in Hook is not unique. All leases are individual and drafting errors can result in certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Bank of Scotland, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Leasehold Conveyancing in Hook - Sample of Questions you should ask before Purchasing

How is the lease structured? Where a Hook lease has no more than eighty years it will have adverse implications on the value of the property. It is worth checking with your mortgage company that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the residence for 24 months in order to be legally able to extend the lease.