I have recently realised that I have 62 years remaining on my lease in Towyn. I am keen to get lease extension but my landlord is missing. What are my options?

If 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 granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. For most situations a specialist may be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Towyn.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Towyn. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Towyn ?

Most houses in Towyn are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Towyn so you should seriously consider looking for a Towyn conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

Back In 2000, I bought a leasehold house in Towyn. Conveyancing and National Westminster Bank mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Towyn who acted for me is not around.Any advice?

First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Towyn conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of maisonettes in Towyn both have in the region of fifty years unexpired on the leases. Will this present a problem?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

In relation to leasehold conveyancing in Towyn what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Towyn. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Alliance & Leicester all have express conveyancing instructions 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 grant the mortgage, forcing the buyer to withdraw.

Leasehold Conveyancing in Towyn - Sample of Questions you should consider Prior to buying

Are there any major works in the planning that could increase the maintenance charges? For many Towyn leaseholds the cost for major works are not incorporated into the maintenance charges, although there some managing agents in Towyn ask leaseholders to pay into a sinking fund created for the specific purpose of establishing a fund for larger repairs or maintenance. The best form of lease arrangement is a share of the freehold. In this arrangement the lessees have being in charge if their destiny and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Towyn