I have recently realised that I have Sixty One years remaining on my flat in Prestbury. I need to extend my lease but my freeholder is can not be found. What are my options?

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 enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to find the freeholder. In some cases an enquiry agent should be useful to try and locate and to produce a report to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Prestbury.

I am hoping to exchange soon on a ground floor flat in Prestbury. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Prestbury should include some of the following:

• You should be sent a copy of the lease

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Prestbury. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Prestbury are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Prestbury in which case you should be looking for a Prestbury conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold flat in Prestbury. Conveyancing and Nationwide Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Prestbury who previously acted has now retired.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Prestbury conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a reputable estate agency in Prestbury where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Prestbury conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Leasehold Conveyancing in Prestbury - Examples of Questions you should consider before Purchasing

Does this lease have more than 80 years left? On the whole the outlay for major works tend not to be built into the maintenance charges, albeit that a few managing agents in Prestbury obliged tenants to contribute towards a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance. Who manages the block?

Other Topics

Lease Extensions in Prestbury