Having checked my lease I have discovered that there are only 62 years remaining on my flat in Cheltenham. I need to get lease extension but my freeholder is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. On the whole an enquiry agent would be useful to carry out a search and to produce a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Cheltenham.

I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Cheltenham. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Cheltenham are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Cheltenham so you should seriously consider looking for a Cheltenham conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should report to you on the legal implications.

Do you have any top tips for leasehold conveyancing in Cheltenham with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Cheltenham can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ representatives.
• Many landlords or Management Companies in Cheltenham charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Cheltenham.

Some Cheltenham leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.

If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.

If you are supposed to have a share in the Management Company, you should ensure that you have the original share document. Arranging a new share certificate can be a lengthy process and slows down many a Cheltenham conveyancing transaction. If a reissued share certificate is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.

Completion in due on the disposal of our £200000 flat in Cheltenham in just under a week. The managing agents has quoted £408 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Cheltenham?

Cheltenham conveyancing on leasehold maisonettes normally involves fees being levied by managing agents :

• Addressing pre-contract questions
• Where consent is required before sale in Cheltenham
• Supplying insurance information
• 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 Cheltenham leasehold premises is £350. For Cheltenham 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 obliged to supply the information.

Are there frequently found defects that you encounter in leases for Cheltenham properties?

Leasehold conveyancing in Cheltenham is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Virgin Money, and Platform Home Loans Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

I bought a garden flat in Cheltenham, conveyancing was carried out 6 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Cheltenham with over 90 years remaining are worth £245,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease expires on 21st October 2102

With only 79 years unexpired we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide 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 are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.

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Lease Extensions in Cheltenham