I only have Sixty One years remaining on my flat in Whittlesey. I now wish to extend my lease but my landlord is can not be found. What are my options?

If 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole a specialist would be useful to carry out a search and prepare a report which can be used as proof 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 overseeing Whittlesey.

Expecting to exchange soon on a studio apartment in Whittlesey. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

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

• Setting out your legal entitlements in respect of the communal areas in the block.By way of example, does the lease grant a right of way over an accessway or staircase?
• Does the lease prevent you from letting out the property, or having a home office for business
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What the implications are if you breach a clause of your lease?

I have just appointed agents to market my ground floor flat in Whittlesey.Conveyancing has not commenced but I have just received a quarterly maintenance charge invoice – what should I do?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a couple of apartments in Whittlesey both have in the region of forty five years left on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Whittlesey is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat 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 Whittlesey 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

Last month I purchased a leasehold property in Whittlesey. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

Leasehold Conveyancing in Whittlesey - Sample of Questions you should ask Prior to buying

Be sure to find out if the the lease includes any unreasonable restrictions in the lease. For instance some leases prohibit pets being permitted in certain buildings in Whittlesey. If you like the propertyin Whittlesey but your cat can’t live with you then you have a very difficult choice. How many years are left on the lease?