I have recently realised that I have Seventy years left on my lease in Tregaron. I now want to extend my lease but my freeholder is absent. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have made all reasonable attempts to locate the landlord. On the whole an enquiry agent should be useful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Tregaron.

Back In 2008, I bought a leasehold house in Tregaron. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing practitioner in Tregaron who acted for me is not around.What should I do?

The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Tregaron conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, 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 apartments in Tregaron which have approximately forty five years unexpired on the leases. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

Can you offer any advice when it comes to choosing a Tregaron conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Tregaron conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Tregaron conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?

When it comes to leasehold conveyancing in Tregaron what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Tregaron. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could 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. Santander, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Leasehold Conveyancing in Tregaron - A selection of Questions you should ask Prior to Purchasing

The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees enjoy control and even though a managing agent is frequently employed if it is bigger than a house conversion, the managing agent is directed by the tenants. Is anyone aware of any major works in the near future that will likely increase the maintenance fees? How long is the Lease?

Other Topics

Lease Extensions in Tregaron