I have recently realised that I have 72 years remaining on my flat in Umberleigh. I now wish to get lease extension but my freeholder is can not be found. What should I do?

If you qualify, 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 magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the landlord. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Umberleigh.

I have just started marketing my 2 bed flat in Umberleigh.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – Do I pay up?

It best that you discharge 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 managing agents 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. This will smooth the conveyancing process.

I am attracted to a couple of maisonettes in Umberleigh which have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Umberleigh. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan 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 Umberleigh conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Umberleigh conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Umberleigh conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

In relation to leasehold conveyancing in Umberleigh what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Umberleigh. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• 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

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Bank of Ireland all have very detailed 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 purchaser to pull out.

Umberleigh Conveyancing for Leasehold Flats - Sample of Queries before buying

What is the maintenance charge and ground rent on the flat? Best to be warned whether a new roof is being installed or some other significant cost is pending to be shared by the leasehold owners and will dramatically impact the level of the maintenance fees or require a specific invoice. You should want to discover as much as you can about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to daily matters such as the upkeep of the communal areas. Ask other tenants what they think of their service. Finally, investigate as to the dates that the service fees are due to the managing agents and specifically what you get for your money.

Other Topics

Lease Extensions in Umberleigh