Having checked my lease I have discovered that there are only 72 years unexpired on my lease in Warfield. I now want to get lease extension but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. However, you will be required to prove that you have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be useful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Warfield.

I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Warfield. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Warfield ?

Most houses in Warfield are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Warfield in which case you should be shopping around for a Warfield conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am looking at a couple of maisonettes in Warfield which have about fifty years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Warfield. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

What are your top tips when it comes to finding a Warfield conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Warfield conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Warfield conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

When it comes to leasehold conveyancing in Warfield what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Warfield. Most leases are individual and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

Warfield Leasehold Conveyancing - Sample of Queries before buying

Generally speaking the outlay for major works tend not to be included within service charges, albeit that some managing agents in Warfield require leasehold owners to contribute towards a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance. You should be aware that where the lease has less than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your bank that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension at some point and you need to have some idea of how much this will be. For most Warfieldlease extensions you will be required to have owned the residence for a couple of years in order to be eligible to extend the lease. Who are the managing agents?

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Lease Extensions in Warfield