Having checked my lease I have discovered that there are only 72 years left on my lease in Wigton. I am keen to get lease extension but my landlord is missing. What are my options?

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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the lessor. On the whole a specialist may be useful to carry out a search and to produce a report which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Wigton.

Estate agents have just been given the go-ahead to market my basement flat in Wigton.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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 managing agents will not acknowledge the buyer unless 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 today plan to offer on a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Wigton. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Wigton are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Wigton in which case you should be shopping around for a Wigton conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 maisonette in Wigton next Wednesday . The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Wigton?

Wigton conveyancing on leasehold maisonettes normally involves administration charges invoiced by landlords agents :

• Completing pre-exchange enquiries
• Where consent is required before sale in Wigton
• 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 solicitor will have no control over the level of the charges for this information but the average costs for the information for Wigton leasehold property is £350. For Wigton 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 required to provide answers.

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

There is nothing unique about leasehold conveyancing in Wigton. All leases are individual and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Bank of Scotland, and Barclays Direct all have very detailed 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 problematic they may refuse to provide security, forcing the buyer to withdraw.

Wigton Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

You should be aware that where the lease has fewer than 80 years it will have adverse implications on the value of the apartment. Check with your lender that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and it is worth finding out how much this would cost. For most Wigtonlease extensions you would be required to have been the owner of the premises for a couple of years before you are eligible to extend the lease. Are there any major works on the horizon that will likely increase the service charges? How much is the yearly maintenance fee and ground rent?

Other Topics

Lease Extensions in Wigton