Having checked my lease I have discovered that there are only 72 years remaining on my flat in Watford. I now wish 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. For most situations an enquiry agent may be helpful to conduct investigations and to produce an expert document to be used as evidence that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Watford.

Planning to exchange soon on a basement flat in Watford. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Watford should include some of the following:

• You should be sent a copy of the lease

I am tempted by the attractive purchase price for a two maisonettes in Watford which have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold property in Watford. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

If all goes to plan we aim to complete the sale of our £500000 apartment in Watford on Monday in a week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Watford?

Watford conveyancing on leasehold flats normally requires the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They are at liberty invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the invoice is technically not due. In reality one has little option but to pay whatever is demanded should you wish to complete the sale of your home.

I have given up negotiating a lease extension in Watford. Can the Leasehold Valuation Tribunal adjudicate on premiums?

You certainly can. We can put you in touch with a Watford conveyancing firm who can help.

An example of a Lease Extension case for a Watford residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case related to 3 flats. The the unexpired residue of the current lease was 71 years.

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Lease Extensions in Watford