Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Penrith. I now wish to extend my lease but my landlord is absent. What should I do?

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 lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist may be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Penrith.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Penrith. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Penrith are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Penrith in which case you should be shopping around for a Penrith conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

I am looking at a two maisonettes in Penrith both have approximately 50 years left on the lease term. Will this present a problem?

There are plenty of short leases in Penrith. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you offer any advice when it comes to appointing a Penrith conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Penrith conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Penrith 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:

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

What volume of lease extensions have they completed in Penrith in the last year?

We expect to complete the sale of our £400000 apartment in Penrith next week. The landlords agents has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Penrith?

Penrith conveyancing on leasehold apartments nine out of ten times results in administration charges levied by management companies :

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

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Penrith leasehold premises is £350. For Penrith 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 obliged to supply answers.

Leasehold Conveyancing in Penrith - A selection of Questions you should consider before buying

The prefered form of lease structure is where the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders enjoy control and although a managing agent is often employed where the building is larger than a house conversion, the managing agent employed by the leaseholders. Who are the managing agents? It is important to be aware if a new roof is being installed or some other major work is pending that will be shared between the leasehold owners and may well dramatically impact the level of the maintenance charges or necessitate a one time payment.

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Lease Extensions in Penrith