Having had my offer accepted I require leasehold conveyancing in Aston on Trent. Before I get started I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Aston on Trent - 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.

I only have Fifty years left on my lease in Aston on Trent. I now wish to get lease extension but my landlord is can not be found. What are my options?

On the basis that 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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to find the freeholder. In some cases a specialist would be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Aston on Trent.

I am attracted to a couple of apartments in Aston on Trent both have in the region of forty five years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in Aston on Trent. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I am a negotiator for a long established estate agent office in Aston on Trent where we have witnessed a few flat sales put at risk as a result of short leases. I have been given conflicting advice from local Aston on Trent conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has been the owner 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 need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

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.

Can you offer any advice when it comes to finding a Aston on Trent conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Aston on Trent conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Aston on Trent 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:

• How familiar is the firm with lease extension legislation?
• Can they put you in touch with client in Aston on Trent who can give a testimonial?

I bought a 2 bed flat in Aston on Trent, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable properties in Aston on Trent with over 90 years remaining are worth £259,000. The ground rent is £55 yearly. The lease expires on 21st October 2087

You have 61 years unexpired we estimate the premium for your lease extension to span between £24,700 and £28,600 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.