I am in need of some leasehold conveyancing in Aldermanbury. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Aldermanbury - then the leasehold title will always include the short particulars 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.

Estate agents have just been given the go-ahead to market my 2 bed flat in Aldermanbury.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge invoice – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 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 work for a reputable estate agency in Aldermanbury where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Aldermanbury conveyancing solicitors. Can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

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. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

What are your top tips when it comes to appointing a Aldermanbury conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Aldermanbury conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Aldermanbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• If the firm is not ALEP accredited then why not?

I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Aldermanbury conveyancing firm to act on my behalf?

Most certainly. We are happy to put you in touch with a Aldermanbury conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Aldermanbury premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The the number of years remaining on the existing lease(s) was 72.39 years.

What makes a Aldermanbury lease unmortgageable?

Leasehold conveyancing in Aldermanbury is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, The Mortgage Works, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

Other Topics

Lease Extensions in Aldermanbury