I am in need of some leasehold conveyancing in South Hylton. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in South Hylton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have 72 years unexpired on my lease in South Hylton. I am keen 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 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 extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. On the whole a specialist would be useful to conduct investigations and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering South Hylton.

I have just appointed agents to market my 2 bed flat in South Hylton.Conveyancing has not commenced but I have just received a yearly service charge demand – what should I do?

The sensible thing to do is clear 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 managing agents 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.

My wife and I purchased a leasehold house in South Hylton. Conveyancing and Santander mortgage are in place. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in South Hylton who acted for me is not around.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a South Hylton conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two maisonettes in South Hylton which have approximately forty five years remaining on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in South Hylton is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with South Hylton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

South Hylton Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

Be sure to investigate if the the lease includes any onerous restrictions in the lease. For example it is very common in South Hylton leases that pets are not allowed in in a block in South Hylton. If you love the flatin South Hylton but your dog can’t move with you then you will be presented with a hard choice. If a South Hylton lease has fewer than eighty years it will impact the value of the apartment. It is worth checking with your bank that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will need to own the premises for 24 months before you are eligible to carry out a lease extension. Is the freehold owned collectively by the leaseholders?

Other Topics

Lease Extensions in South Hylton