I am in need of some leasehold conveyancing in Lytchett Matravers. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Lytchett Matravers - then the leasehold title will always include the basic details 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.

Having checked my lease I have discovered that there are only Fifty years left on my lease in Lytchett Matravers. I now wish to get lease extension but my landlord is absent. What options are available to me?

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 mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. In some cases an enquiry agent should be useful to try and locate and to produce an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Lytchett Matravers.

I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Lytchett Matravers. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Lytchett Matravers ?

The majority of houses in Lytchett Matravers are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Lytchett Matravers so you should seriously consider looking for a Lytchett Matravers conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.

I am looking at a two flats in Lytchett Matravers both have in the region of 50 years remaining on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a long established estate agent office in Lytchett Matravers where we see a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Lytchett Matravers conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Lytchett Matravers Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

How many of the leaseholders are in arrears for their service charge payments? It is important to be aware whether changing the roof or some other significant cost is due shortly to be shared by the leasehold owners and could well dramatically impact the level of the maintenance fees or necessitate a one off payment. Does the lease have more than 82 years left?

Other Topics

Lease Extensions in Lytchett Matravers