I only have Seventy years remaining on my lease in St Ives. I need to extend my lease but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations a specialist should be helpful to carry out a search and prepare a report to be accepted by the court as proof that the freeholder 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 St Ives.

Estate agents have just been given the go-ahead to market my garden apartment in St Ives.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – what should I do?

It best that you clear the invoice 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 until 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in St Ives. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in St Ives are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in St Ives so you should seriously consider looking for a St Ives conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will advise you fully on all the issues.

Last month I purchased a leasehold flat in St Ives. Am I liable to pay 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).

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

There is nothing unique about leasehold conveyancing in St Ives. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the property
• Insurance obligations
• 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 could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Leeds Building Society, and Barclays Direct all have very detailed 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, forcing the buyer to withdraw.

Leasehold Conveyancing in St Ives - Sample of Questions you should ask Prior to Purchasing

What restrictions are contained in the St Ives Lease? This information is useful as a) areas may cause problems for the block as the common areas may begin to deteriorate where services are not paid for b) if the tenants have an issue with the managing agents you will need to have all the details Best to be warned if fixing the lift or some other significant cost is coming up that will be shared amongst the leaseholders and could well dramatically impact the level of the service fees or require a specific payment.

Other Topics

Lease Extensions in St Ives