Having had my offer accepted I require leasehold conveyancing in Parkstone. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in Parkstone - then the leasehold title will always include the basic details 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.

There are only Seventy years left on my lease in Parkstone. I now want to get lease extension but my landlord is absent. 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 an order to dispense with the service of the initial notice. This will enable the lease to 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 freeholder. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court overseeing Parkstone.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Parkstone. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Parkstone are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Parkstone in which case you should be shopping around for a Parkstone conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

I am looking at a couple of apartments in Parkstone which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

What advice can you give us when it comes to finding a Parkstone conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Parkstone 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 two or three firms including non Parkstone conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• How experienced is the practice with lease extension legislation?

I acquired a 2 bed flat in Parkstone, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Parkstone with an extended lease are worth £203,000. The ground rent is £45 yearly. The lease finishes on 21st October 2089

With just 65 years remaining on your lease we estimate the price of your lease extension to be between £13,300 and £15,400 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

Other Topics

Lease Extensions in Parkstone