Fixed-fee leasehold conveyancing in Mundesley:

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Having checked my lease I have discovered that there are only 62 years remaining on my flat in Mundesley. I need to get lease extension but my freeholder is can not be found. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. For most situations an enquiry agent would be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Mundesley.

Due to sign contracts shortly on a basement flat in Mundesley. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

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

  • The physical extent of the premises. This will be the property itself but may include a roof space or cellar if applicable.
  • Does the lease prevent you from renting out the property, or having a home office for business
  • You must be told what constitutes a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For details of the information to be included in your report on your leasehold property in Mundesley please enquire of your solicitor in advance of your conveyancing in Mundesley

    • I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Mundesley. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

    Most houses in Mundesley are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Mundesley so you should seriously consider looking for a Mundesley conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.

    I've recently bought a leasehold house in Mundesley. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 provide any advice for leasehold conveyancing in Mundesley with the intention of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Mundesley can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority landlords or managing agents in Mundesley levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Mundesley.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to discharge 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 are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and frustrates many a Mundesley home move. If a new share certificate is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I invested in buying a 1 bedroom flat in Mundesley, conveyancing formalities finalised 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Mundesley with a long lease are worth £181,000. The ground rent is £45 per annum. The lease terminates on 21st October 2099

    With only 74 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 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 a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.

    Other Topics

    Lease Extensions in Mundesley