I have recently realised that I have 62 years unexpired on my lease in Parkstone. I now want to extend my lease but my freeholder is can not be found. What options are available to me?

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 enable the lease to be extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to track down the lessor. On the whole a specialist would be helpful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering Parkstone.

I have just appointed agents to market my 2 bed flat in Parkstone.Conveyancing has not commenced but I have just received a yearly service charge demand – what should I do?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Parkstone. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Parkstone ?

Most houses in Parkstone are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Parkstone so you should seriously consider looking for a Parkstone conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being 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’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

Can you offer any advice when it comes to choosing a Parkstone conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Parkstone conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires 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 of use:

• How familiar is the practice with lease extension legislation?

If all goes to plan we aim to complete the disposal of our £500000 apartment in Parkstone in just under a week. The managing agents has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Parkstone?

Parkstone conveyancing on leasehold apartments normally necessitates the buyer’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to assist. They may charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to sell the property.

Parkstone Conveyancing for Leasehold Flats - A selection of Questions you should consider before buying

Its a good idea to discover as much as you can regarding the company managing the building as they will either make your living at the property much easier or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to daily matters such as the cleanliness of the communal areas. Enquire of other people whether they are happy with their management. Finally, be sure you know the dates that the service charges are due to the appropriate party and specifically how they are spending that money. Please note if it is less than eighty years it will affect the marketability of the apartment. Check with your mortgage company that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably require a lease extension at some point and you need to have some idea of what this would cost. For most Parkstonelease extensions you would need to own the property for 24 months before you are eligible to exercise a lease extension. The answer will be important as a) areas may result in problems for the block as the common areas may start to deteriorate where maintenance are not paid for b) if the tenants have a dispute with the running of the building you will wish to know about it

Other Topics

Lease Extensions in Parkstone