Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Sandy. I now want to get lease extension but my freeholder is absent. What options are available to me?

On the basis that 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the freeholder. For most situations a specialist should be useful to conduct investigations and to produce an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Sandy.

I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Sandy. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Sandy ?

Most houses in Sandy are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Sandy in which case you should be looking for a Sandy 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 number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

Last month I purchased a leasehold house in Sandy. Am I liable to pay service charges for periods before completion of my purchase?

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. It is an essential part 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).

What advice can you give us when it comes to appointing a Sandy conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Sandy conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Sandy conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• If they are not ALEP accredited then what is the reason?

When it comes to leasehold conveyancing in Sandy what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Sandy. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Bank of Scotland, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

I invested in buying a basement flat in Sandy, conveyancing formalities finalised in 2001. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Sandy with over 90 years remaining are worth £254,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2083

With just 59 years unexpired the likely cost is going to range between £27,600 and £31,800 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

Other Topics

Lease Extensions in Sandy