I am in need of some leasehold conveyancing in Neston. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Neston - 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.

Having checked my lease I have discovered that there are only Fifty years left on my flat in Neston. I need to extend my lease but my landlord is missing. What are my options?

If 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 extended by the Court. However, you will be required to prove that you have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be useful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Neston.

I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Neston. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Neston ?

Most houses in Neston are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Neston so you should seriously consider looking for a Neston conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority 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 comes with conditions for example obtaining the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

My wife and I purchased a leasehold flat in Neston. Conveyancing and Britannia mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Neston who previously acted has long since retired.Do I pay?

First contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Neston conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of apartments in Neston both have in the region of 50 years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Neston is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. The majority of purchasers and mortgage companies, leases with under 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 Neston conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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 purchased a ground floor flat in Neston, conveyancing was carried out in 2002. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Neston with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £50 per annum. The lease runs out on 21st October 2100

With just 76 years left to run the likely cost is going to be between £8,600 and £9,800 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Neston