I only have 72 years left on my flat in Swadlincote. I need to extend my lease but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to find the lessor. In some cases a specialist should be useful to try and locate and to produce an expert document which can be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Swadlincote.

I’m about to sell my basement apartment in Swadlincote.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – what should I do?

The sensible thing to do is 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. This will smooth the conveyancing process.

I am attracted to a couple of apartments in Swadlincote both have about forty five years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Swadlincote is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and banks, leases with less than eighty years become less and less attractive. On a more upbeat 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 property 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 Swadlincote 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.

We expect to complete our sale of a £175000 flat in Swadlincote next week. The freeholder has quoted £372 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Swadlincote?

Swadlincote conveyancing on leasehold flats ordinarily results in fees being raised by managing agents :

• Addressing pre-contract questions
• Where consent is required before sale in Swadlincote
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Swadlincote leasehold premises is £350. For Swadlincote 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 obliged to supply answers.

Are there frequently found deficiencies that you see in leases for Swadlincote properties?

Leasehold conveyancing in Swadlincote is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Leeds Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Swadlincote Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

Best to be warned whether changing the roof or some other major work is due in the near future to be shared by the leaseholders and could well dramatically increase the the service fees or result in a one off invoice. Be sure to discover if there is anything that is prohibited in the lease. By way of example it is very common in Swadlincote leases that pets are not allowed in in a block in Swadlincote. If you like the flatin Swadlincote yet your dog can’t make the move with you then you have a very difficult determination. Is anyone aware of any major works in the near future that will likely increase the service fees?

Other Topics

Lease Extensions in Swadlincote