Having checked my lease I have discovered that there are only Seventy years remaining on my lease in Nettleham. I am keen to extend my lease but my freeholder is can not be found. What are my options?

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 extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent would be useful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court overseeing Nettleham.

I've found a house that seems to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Nettleham. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Nettleham ?

The majority of houses in Nettleham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Nettleham so you should seriously consider shopping around for a Nettleham conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

My wife and I purchased a leasehold house in Nettleham. Conveyancing and Chelsea Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Nettleham who previously acted has now retired.Do I pay?

First contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Nettleham conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in Nettleham both have approximately fifty years unexpired on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Nettleham is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of purchasers and mortgage companies, leases with less than 75 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 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 a residence 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 Nettleham 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 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.

What advice can you give us when it comes to finding a Nettleham conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Nettleham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Nettleham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

Leasehold Conveyancing in Nettleham - A selection of Queries Prior to Purchasing

The answer will be helpful as a) areas could cause problems in the building as the communal areas may start to deteriorate where maintenance remain unpaid b) if the tenants have a dispute with the running of the building you will wish to have full disclosure It is important to be aware whether fixing the lift or some other major work is pending that will be shared amongst the leaseholders and could well dramatically impact the level of the maintenance costs or require a one time invoice. What is the the remaining lease term?

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Lease Extensions in Nettleham