Having checked my lease I have discovered that there are only Sixty One years left on my lease in Ryde. I now wish to get lease extension but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations a specialist should 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 can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Ryde.

I am hoping to sign contracts shortly on a ground floor flat in Ryde. Conveyancing lawyers inform me that they are sending me a report tomorrow. What should I be looking out for?

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

• The physical extent of the demise. This will be the property itself but could also include a roof space or basement if applicable.

I own a leasehold flat in Ryde. Conveyancing and Norwich and Peterborough Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Ryde who previously acted has now retired.What should I do?

First contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Ryde conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two flats in Ryde both have approximately fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

Last month I purchased a leasehold house in Ryde. Do I have any liability for service charges for periods before my ownership?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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).

Ryde Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

Does the lease contain onerous restrictions? How much is the maintenance charge and ground rent on the flat? The majority of Ryde leasehold properties will be liable to pay a service bill for maintenance of the building invoiced on behalf of the freeholder. If you buy the apartment you will have to pay this amount, usually in instalments during the year. This may be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a rentcharge for you to pay annual, ordinarily this is not a large amount, say approximately £50-£100 but you should to enquire as on occasion it could be many hundreds of pounds.

Other Topics

Lease Extensions in Ryde