Having checked my lease I have discovered that there are only 68 years unexpired on my flat in Verwood. 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 meet the appropriate requirements, 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 granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the freeholder. In some cases an enquiry agent should be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Verwood.

I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Verwood. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Verwood ?

The majority of houses in Verwood are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Verwood in which case you should be shopping around for a Verwood conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.

Back In 2008, I bought a leasehold house in Verwood. Conveyancing and Nottingham Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Verwood who acted for me is not around.Any advice?

First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Verwood conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a reputable estate agency in Verwood where we have witnessed a number of flat sales derailed due to short leases. I have been given contradictory information from local Verwood conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to appointing a Verwood conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Verwood conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Verwood conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How many lease extensions have they completed in Verwood in the last year?

I inherited a basement flat in Verwood, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Verwood with over 90 years remaining are worth £205,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2085

With 59 years remaining on your lease we estimate the price of your lease extension to span between £22,800 and £26,400 as well as professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Verwood