Having had my offer accepted I require leasehold conveyancing in Wareham. Before diving in I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Wareham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I want to let out my leasehold apartment in Wareham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Wareham do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

There are only Fifty years remaining on my flat in Wareham. I am keen to extend my lease but my freeholder is missing. What should I do?

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 enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the lessor. On the whole an enquiry agent would be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Wareham.

I am tempted by the attractive purchase price for a two apartments in Wareham which have approximately 50 years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Wareham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the premises. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Wareham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

If you are instructing a property lawyer for your lease extension (regardless if they are a Wareham conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Wareham 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:

• If the firm is not ALEP accredited then what is the reason?

Leasehold Conveyancing in Wareham - Sample of Questions you should consider Prior to Purchasing

The answer will be helpful as a) areas may result in problems for the block as the communal areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will wish to know about it It would be wise to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters such as the cleanliness of the communal areas. Ask prospective neighbours what they think of their management. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes. Many Wareham leasehold properties will incur a service charge for the upkeep of the building set by the landlord. Where you buy the property you will have to meet this amount, normally quarterly throughout the year. This may differ from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a ground rent for you to pay annual, this is usually not a large amount, say about £50-£100 but you need to enquire it because on occasion it could be surprisingly expensive.

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Lease Extensions in Wareham