There are only Seventy years unexpired on my flat in Olney. I am keen to extend my lease but my freeholder is absent. What should I do?

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 an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. On the whole a specialist should be helpful to carry out a search and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Olney.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Olney. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Olney are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Olney in which case you should be looking for a Olney conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.

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

When appointing a conveyancer for lease extension works (regardless if they are a Olney conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Olney conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• If they are not ALEP accredited then what is the reason?

How many lease extensions have they conducted in Olney in the last year?

Can you provide any top tips for leasehold conveyancing in Olney with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Olney can be avoided if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
• The majority freeholders or Management Companies in Olney levy fees for supplying management packs for a leasehold homes. 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 accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Olney.

If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Olney leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. If you fail to have the paperwork to hand do not communicate with the landlord without contacting your conveyancer before hand.

If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Obtaining a duplicate share certificate can be a time consuming formality and frustrates many a Olney home move. Where a reissued share certificate is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.

You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £225000 maisonette in Olney on Thursday in a week. The managing agents has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Olney?

Olney conveyancing on leasehold flats ordinarily results in administration charges raised by landlords agents :

• Answering conveyancing due diligence enquiries
• Where consent is required before sale in Olney
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Olney leasehold property is £350. For Olney conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Olney Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

What is the name of the managing agents? Its a good idea to discover as much as you can concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to every day issues like the cleanliness of the communal areas. Don't be shy to ask other tenants what they think of them. On a final note, be sure you discover the dates that you are obliged pay the service charge to the appropriate party and precisely what it includes. Can you inform me if there are any major works in the near future that will increase the service charges?

Other Topics

Lease Extensions in Olney