Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Aston Clinton. I now want to get lease extension but my freeholder is can not be found. What options are available to me?

If you qualify, 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 mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have done all that could be expected to locate the lessor. In some cases an enquiry agent would be useful to conduct investigations and to produce an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court covering Aston Clinton.

I am hoping to exchange soon on a leasehold property in Aston Clinton. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Aston Clinton should include some of the following:

• You should be sent a copy of the lease

The physical extent of the premises. This will be the apartment itself but could also incorporate a loft or basement if applicable.

Setting out your legal entitlements in respect of common areas in the block.For instance, does the lease include a right of way over an accessway or hallways?

An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has

You should have a good understanding of the insurance provisions

Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?

Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Aston Clinton please ask your solicitor in advance of your conveyancing in Aston Clinton

I am tempted by the attractive purchase price for a two maisonettes in Aston Clinton which have about forty five years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Aston Clinton 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 value of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less marketable. 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 Aston Clinton 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

What are your top tips when it comes to finding a Aston Clinton conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Aston Clinton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Aston Clinton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• What volume of lease extensions have they conducted in Aston Clinton in the last year?

Can they put you in touch with client in Aston Clinton who can give a testimonial?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £300000 garden flat in Aston Clinton in just under a week. The managing agents has quoted £348 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Aston Clinton?

Aston Clinton conveyancing on leasehold maisonettes normally involves fees being invoiced by managing agents :

• Answering pre-exchange questions
• Where consent is required before sale in Aston Clinton
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Aston Clinton leasehold property is £350. For Aston Clinton 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 required to supply the information.

I acquired a studio flat in Aston Clinton, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Aston Clinton with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £55 yearly. The lease runs out on 21st October 2105

With only 80 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Aston Clinton