I only have 62 years unexpired on my lease in Limehouse. I need to get lease extension 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 an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the landlord. For most situations an enquiry agent would be helpful to try and locate and prepare a report which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Limehouse.

I own a leasehold house in Limehouse. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Limehouse who acted for me is not around.What should I do?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Limehouse conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Limehouse both have in the region of fifty years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Limehouse is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and banks, leases with under 75 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 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 Limehouse 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 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.

Can you offer any advice when it comes to choosing a Limehouse conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Limehouse conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Limehouse conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• What volume of lease extensions have they completed in Limehouse in the last year?

Can you provide any top tips for leasehold conveyancing in Limehouse with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Limehouse can be avoided if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers representatives.
• Many landlords or Management Companies in Limehouse levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Limehouse.

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

if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the amount due.

An example of a Freehold Enfranchisement case for a Limehouse residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.

Other Topics

Lease Extensions in Limehouse