Having had my offer accepted I require leasehold conveyancing in Lound. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and most are in Lound - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

There are only 68 years remaining on my flat in Lound. I need to extend my lease but my landlord is can not be found. What are my options?

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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Lound.

Planning to exchange soon on a ground floor flat in Lound. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Lound should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years

I have just appointed agents to market my garden apartment in Lound.Conveyancing is yet to be initiated but I have just received a yearly service charge demand – what should I do?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of flats in Lound both have approximately forty five years remaining on the leases. should I be concerned?

There are plenty of short leases in Lound. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

I acquired a ground floor flat in Lound, conveyancing having been completed in 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Lound with a long lease are worth £169,000. The average or mid-range amount of ground rent is £60 per annum. The lease finishes on 21st October 2094

With just 69 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Lound