I am in need of some leasehold conveyancing in Castle Bromwich. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Castle Bromwich - 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 have recently realised that I have 72 years remaining on my flat in Castle Bromwich. I now want to extend my lease but my freeholder is missing. 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 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 used your best endeavours to track down the lessor. In some cases a specialist may be helpful 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 conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Castle Bromwich.

I am looking at a two apartments in Castle Bromwich which have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As the lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. 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 extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

I've recently bought a leasehold flat in Castle Bromwich. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

When it comes to leasehold conveyancing in Castle Bromwich what are the most frequent lease problems?

Leasehold conveyancing in Castle Bromwich is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

I acquired a split level flat in Castle Bromwich, conveyancing having been completed 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Castle Bromwich with an extended lease are worth £268,000. The ground rent is £45 yearly. The lease ends on 21st October 2106

With just 80 years left to run the likely cost is going to span between £11,400 and £13,200 plus professional fees.

The suggested premium range 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 investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.