I am on look out for some leasehold conveyancing in Buntingford. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Buntingford - 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 62 years unexpired on my flat in Buntingford. I am keen to get lease extension but my landlord is absent. What should I do?

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 mean that your lease can be extended by the Court. You will be obliged to demonstrate that you have done all that could be expected to find the lessor. For most situations a specialist would be useful to carry out a search and to produce an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Buntingford.

Back In 2000, I bought a leasehold house in Buntingford. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Buntingford who previously acted has long since retired.Do I pay?

First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Buntingford conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a two flats in Buntingford both have about 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Buntingford. The lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

I am employed by a reputable estate agency in Buntingford where we see a number of flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Buntingford 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?

Provided that 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. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 purchaser.

I bought a split level flat in Buntingford, conveyancing having been completed 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Buntingford with over 90 years remaining are worth £220,000. The ground rent is £45 levied per year. The lease terminates on 21st October 2080

You have 55 years unexpired the likely cost is going to span between £28,500 and £33,000 as well as legals.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.

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Lease Extensions in Buntingford