I only have Seventy years remaining on my lease in Caddington. I am keen to get lease extension but my freeholder is can not be found. 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 submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have done all that could be expected to find the landlord. In some cases a specialist may be helpful to try and locate and prepare a report which can be used as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Caddington.

Looking forward to sign contracts shortly on a studio apartment in Caddington. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?

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

• You should receive a copy of the lease

I have just started marketing my garden flat in Caddington.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – Do I pay up?

The sensible thing to do is clear 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 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've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Caddington. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Caddington ?

Most houses in Caddington are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Caddington so you should seriously consider looking for a Caddington conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As 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 landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

I've recently bought a leasehold house in Caddington. Do I have any liability for service charges for periods before 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. Strange as it may seem, 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 Caddington - Sample of Questions you should consider Prior to buying

It would be sensible to find out 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 often at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the communal areas. Enquire of other tenants whether they are happy with them. Finally, find out the dates that the service fees are due to the appropriate party and specifically what you get for your money. Plenty Caddington leasehold properties will incur a service bill for maintenance of the building set on behalf of the management company. Should you buy the property you will have to meet this charge, usually in instalments during the year. This could vary from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a rentcharge for you to pay yearly, this is usually not a significant amount, say approximately £25-£75 but you need to enquire it because sometimes it can be many hundreds of pounds. The prefered form of lease structure is a share of the freehold. In this scenario the leaseholders benefit from control and notwithstanding that a managing agent is often employed where it is larger than a house conversion, the managing agent is directed by the tenants.

Other Topics

Lease Extensions in Caddington