Having checked my lease I have discovered that there are only 68 years remaining on my flat in Oldham. I now wish to get lease extension but my landlord is missing. What options are available to me?

If 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 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 prove that you or your lawyers have made all reasonable attempts to locate the freeholder. In some cases an enquiry agent should be helpful to conduct investigations and prepare a report to 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 devolving into the landlord’s disappearance and the application to the County Court overseeing Oldham.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Oldham. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Oldham are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Oldham so you should seriously consider shopping around for a Oldham conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.

What are your top tips when it comes to finding a Oldham conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Oldham conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Oldham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?

Do you have any top tips for leasehold conveyancing in Oldham with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Oldham can be avoided where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• Many landlords or Management Companies in Oldham 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 sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Oldham.

What makes a Oldham lease defective?

There is nothing unique about leasehold conveyancing in Oldham. Most leases are individual and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

I own a split level flat in Oldham, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Oldham with an extended lease are worth £265,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2075

With just 51 years remaining on your lease the likely cost is going to be between £39,000 and £45,000 plus costs.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Oldham