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Plymstock leasehold conveyancing: Q and A’s

Having checked my lease I have discovered that there are only 62 years left on my lease in Plymstock. I am keen to extend my lease but my landlord is absent. 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 enable the lease to be extended by the Court. However, you will be required to prove that you have used your best endeavours to track down the lessor. In some cases an enquiry agent would be useful to conduct investigations and to produce a report 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 in relation to devolving into the landlord’s disappearance and the application to the County Court covering Plymstock.

My wife and I purchased a leasehold flat in Plymstock. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Plymstock who previously acted has now retired.Any advice?

First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Plymstock conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I work for a reputable estate agency in Plymstock where we see a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local Plymstock conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

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

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

  • What volume of lease extensions has the firm conducted in Plymstock in the last 12 months?
  • Can they put you in touch with client in Plymstock who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Plymstock from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Plymstock can be bypassed where you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers lawyers.
    • The majority landlords or Management Companies in Plymstock 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 information can be applied for 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 cause of frustration in leasehold conveyancing in Plymstock.
  • A minority of Plymstock leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a time consuming formality and delays many a Plymstock home move. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.

    • I own a garden flat in Plymstock, conveyancing was carried out 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Plymstock with an extended lease are worth £233,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2094

    With just 69 years remaining on your lease the likely cost is going to be between £13,300 and £15,400 as well as costs.

    The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Plymstock