Having checked my lease I have discovered that there are only 68 years left on my lease in Shepton Mallet. I now wish to get lease extension but my landlord is missing. What are my options?

If you meet the appropriate requirements, 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 Court. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. For most situations a specialist may be helpful to carry out a search and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Shepton Mallet.

I have just appointed agents to market my basement apartment in Shepton Mallet.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge 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 management companies will not acknowledge the buyer unless 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.

Last month I purchased a leasehold house in Shepton Mallet. 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).

If all goes to plan we aim to complete the sale of our £300000 flat in Shepton Mallet next week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Shepton Mallet?

Shepton Mallet conveyancing on leasehold maisonettes normally requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.

What are the frequently found problems that you come across in leases for Shepton Mallet properties?

There is nothing unique about leasehold conveyancing in Shepton Mallet. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair 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

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Chelsea Building Society, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

I inherited a 1 bedroom flat in Shepton Mallet, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Shepton Mallet with over 90 years remaining are worth £200,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2086

With just 61 years remaining on your lease the likely cost is going to range between £20,000 and £23,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.

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Lease Extensions in Shepton Mallet