I have recently realised that I have Fifty years remaining on my flat in Callerton. I need to extend my lease but my landlord is missing. What options are available to me?

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 enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. For most situations an enquiry agent would be helpful to conduct investigations and to produce a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Callerton.

I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Callerton. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

The majority of houses in Callerton are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Callerton so you should seriously consider looking for a Callerton conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your solicitor should appraise you on the various issues.

I am looking at a couple of flats in Callerton which have in the region of 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Callerton is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. 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 premises 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 Callerton 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.

Last month I purchased a leasehold house in Callerton. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Callerton from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Callerton can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Callerton leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. If you dont have the approvals in place do not communicate with the landlord without checking with your solicitor first.

I purchased a 2 bed flat in Callerton, conveyancing having been completed 2008. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Callerton with an extended lease are worth £216,000. The ground rent is £65 yearly. The lease ceases on 21st October 2077

You have 52 years unexpired the likely cost is going to span between £29,500 and £34,000 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.

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Lease Extensions in Callerton