I have recently realised that I have Sixty One years remaining on my flat in Amersham. I now wish to extend my lease but my freeholder 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 extended by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. In some cases a specialist should be useful to carry out a search and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing Amersham.

I have just appointed agents to market my 2 bed flat in Amersham.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should 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 two maisonettes in Amersham which have approximately 50 years unexpired on the leases. should I be concerned?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Amersham with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Amersham can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
• Many freeholders or Management Companies in Amersham levy fees for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Amersham.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Amersham leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. If you fail to have the consents in place do not communicate with the landlord without checking with your solicitor first.
• A minority of Amersham leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming process and slows down many a Amersham conveyancing transaction. If a reissued share certificate is required, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity.

What are the common defects that you see in leases for Amersham properties?

Leasehold conveyancing in Amersham is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Bank of Scotland, and Bank of Ireland all have very detailed requirements 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, obliging the buyer to pull out.

I am the registered owner of a basement flat in Amersham, conveyancing having been completed 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Amersham with a long lease are worth £197,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2077

With 51 years left to run the likely cost is going to be between £32,300 and £37,400 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.