Leasehold Conveyancing in Aperfield - Get a Quote from the leasehold experts approved by your lender

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Top Five Questions relating to Aperfield leasehold conveyancing

I am on look out for some leasehold conveyancing in Aperfield. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Aperfield - 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 Sixty One years remaining on my lease in Aperfield. I need to get lease extension but my freeholder is absent. What are my options?

If you qualify, 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 lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. In some cases a specialist would be useful to carry out a search and to produce a report to be used as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Aperfield.

I’m about to sell my basement flat in Aperfield.Conveyancing has not commenced but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is 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 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 am looking at a two flats in Aperfield which have about fifty years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Aperfield is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and banks, leases with under 75 years become less and less marketable. 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 premises 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 premises 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 Aperfield 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 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.

Can you provide any top tips for leasehold conveyancing in Aperfield with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Aperfield can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority freeholders or Management Companies in Aperfield charge for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Aperfield.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Aperfield leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer first.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to ongoing.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • I have given up seeking a lease extension in Aperfield. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. We can put you in touch with a Aperfield conveyancing firm who can help.

    An example of a Lease Extension decision for a Aperfield residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 50.57 years.