Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Ripley. I need to extend my lease but my freeholder is missing. What should I do?

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 mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the lessor. In some cases an enquiry agent should be helpful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Ripley.

I am hoping to exchange soon on a studio apartment in Ripley. Conveyancing lawyers assured me that they will have a report out to me next week. What should I be looking out for?

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

• You should be sent a copy of the lease

I have just appointed agents to market my basement flat in Ripley.Conveyancing has not commenced but I have just had a quarterly maintenance charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay the invoice 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 managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.

We expect to complete the sale of our £475000 maisonette in Ripley in just under a week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Ripley?

Ripley conveyancing on leasehold flats usually involves the buyer’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are entitled levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge demanded by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded if you want to sell the property.

What are the frequently found problems that you see in leases for Ripley properties?

There is nothing unique about leasehold conveyancing in Ripley. Most leases are unique and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Skipton Building Society, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

Leasehold Conveyancing in Ripley - A selection of Queries Prior to buying

Generally speaking the cost for major works tend not to be built into the maintenance charges, albeit that some managing agents in Ripley require leaseholders to contribute towards a sinking fund created for the specific intention of establishing a fund for major repairs or maintenance. Who takes charge for maintaining and repairing the block? Please note if it is less than 80 years it will affect the salability of the property. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering what this would cost. For most Ripleylease extensions you will be be obliged to have owned the property for a couple of years before you are legally able to extend the lease.

Other Topics

Lease Extensions in Ripley