I only have 72 years remaining on my lease in Rumney. I am keen to extend my lease but my freeholder is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. However, you will be required to demonstrate that you have used your best endeavours to track down the freeholder. On the whole an enquiry agent would be helpful to carry out a search and prepare an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court covering Rumney.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Rumney. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Rumney ?

Most houses in Rumney are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Rumney in which case you should be looking for a Rumney conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am attracted to a two maisonettes in Rumney which have approximately 50 years left on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold property in Rumney. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am a negotiator for a long established estate agency in Rumney where we see a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Rumney conveyancing solicitors. Could you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start 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 has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.

I own a basement flat in Rumney, conveyancing having been completed 2010. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Rumney with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £60 per annum. The lease finishes on 21st October 2090

With 64 years unexpired the likely cost is going to be between £17,100 and £19,800 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.