I have recently realised that I have Sixty One years remaining on my lease in Ripley. I now wish to get lease extension but my landlord is absent. 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 enable the lease to be extended by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. In some cases an enquiry agent may be useful to try and locate and prepare a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Ripley.

Due to exchange soon on a leasehold property in Ripley. Conveyancing lawyers assured me 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 Ripley should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the property. This will be the property itself but could also incorporate a loft or cellar if applicable.
• Does the lease prevent you from letting out the flat, or having a home office for business
• You need to be told what counts as a Nuisance in the lease
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Ripley. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Ripley are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Ripley in which case you should be looking for a Ripley conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will report to you on the legal implications.

I am tempted by the attractive purchase price for a two maisonettes in Ripley which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Ripley is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and banks, leases with less than eighty 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 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 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 Ripley 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.

Can you offer any advice when it comes to finding a Ripley conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Ripley conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Ripley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• If they are not ALEP accredited then why not?
• What volume of lease extensions has the firm carried out in Ripley in the last year?

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

What is the name of the managing agents? Please tell me if there are any major works in the near future that will likely add a premium to the service costs?