I am in need of some leasehold conveyancing in Houghton Regis. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Houghton Regis - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have 68 years remaining on my flat in Houghton Regis. I need to get lease extension but my landlord is absent. What options are available to me?

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 an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. In some cases an enquiry agent should be helpful to conduct investigations and prepare a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court covering Houghton Regis.

I have just appointed agents to market my 2 bed flat in Houghton Regis.Conveyancing is yet to be initiated but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the service charge 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 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 work for a busy estate agency in Houghton Regis where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Houghton Regis conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are the common problems that you see in leases for Houghton Regis properties?

Leasehold conveyancing in Houghton Regis is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements 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

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

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

It is important to be aware if window replacement or some other significant cost is anticipated to be shared by the leasehold owners and could well dramatically increase the the service fees or necessitate a one time payment. In the main the outlay for major works tend not to be wrapped into the service charges, although a few managing agents in Houghton Regis require leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for major works. If a Houghton Regis lease has less than 80 years it will affect the marketability of the apartment. It is worth checking with your lender that they are willing to lend given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would be be obliged to have been the owner of the premises for two years before you are legally able to extend the lease.

Other Topics

Lease Extensions in Houghton Regis