Having had my offer accepted I require leasehold conveyancing in North Hykeham. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in North Hykeham - 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.

I have recently realised that I have 72 years left on my lease in North Hykeham. I now wish to extend my lease but my freeholder is can not be found. What are my options?

On the basis that 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 an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole a specialist would be helpful to try and locate and prepare 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 solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing North Hykeham.

I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in North Hykeham. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in North Hykeham ?

The majority of houses in North Hykeham are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in North Hykeham so you should seriously consider looking for a North Hykeham conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I work for a long established estate agent office in North Hykeham where we see a number of leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local North Hykeham conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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 purchaser.

We expect to complete the sale of our £275000 garden flat in North Hykeham next Monday . The landlords agents has quoted £396 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in North Hykeham?

North Hykeham conveyancing on leasehold apartments often necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is above £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Leasehold Conveyancing in North Hykeham - A selection of Questions you should consider before Purchasing

Does the lease have onerous restrictions? The prefered form of lease structure is a share of the freehold. In this arrangement the tenants have control and even though a managing agent is usually employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. How much is the yearly service fee and ground rent?

Other Topics

Lease Extensions in North Hykeham