Having checked my lease I have discovered that there are only 62 years unexpired on my flat in West Haddon. I now wish to get lease extension but my freeholder is absent. What are my options?

On the basis that you meet the appropriate requirements, 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 enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases a specialist would be helpful to try and locate and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering West Haddon.

I am tempted by the attractive purchase price for a two flats in West Haddon which have in the region of fifty years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in West Haddon is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of buyers and lenders, leases with less than eighty 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 property 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 a residence 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 West Haddon conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

Can you offer any advice when it comes to choosing a West Haddon conveyancing firm to deal with our lease extension?

When appointing a solicitor for lease extension works (regardless if they are a West Haddon conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non West Haddon conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

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

What volume of lease extensions has the firm completed in West Haddon in the last year?

Do you have any top tips for leasehold conveyancing in West Haddon with the aim of expediting the sale process?

• Much of the frustration in leasehold conveyancing in West Haddon can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the buyers representatives.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in West Haddon state that internal structural changes or laying down wooden flooring require a licence from the Landlord consenting to such alterations. If you dont have the consents to hand you should not communicate with the landlord without contacting your lawyer in the first instance.

Some West Haddon leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.

If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing.

You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

If all goes to plan we aim to complete our sale of a £175000 flat in West Haddon next week. The managing agents has quoted £312 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in West Haddon?

For most leasehold sales in West Haddon conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange enquiries
• Where consent is required before sale in West Haddon
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for West Haddon leasehold property is £350. For West Haddon conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

West Haddon Leasehold Conveyancing - A selection of Questions you should consider before Purchasing

Generally speaking the cost for major works tend not to be included within maintenance charges, albeit that some managing agents in West Haddon obliged leasehold owners to contribute towards a reserve fund and this is used to offset against larger works. Please tell me if there are any major works on the horizon that will add a premium to the maintenance fees? It would be sensible to discover as much as possible about the managing agents 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 from a financial perspective and when it comes to every day issues such as the upkeep of the communal areas. Don't be shy to ask other tenants what they think of their management. Finally, be sure you understand the dates that the maintenance charges are due to the appropriate party and specifically what it includes.

Other Topics

Lease Extensions in West Haddon