I have recently realised that I have Fifty years left on my flat in Chesterfield. I now wish to extend my lease but my freeholder is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. On the whole a specialist would be useful to try and locate and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the application to the County Court overseeing Chesterfield.

I am tempted by the attractive purchase price for a two flats in Chesterfield both have in the region of forty five years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Chesterfield 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 marketability of the premises. The majority of buyers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 a residence 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 Chesterfield 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 any new 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.

What advice can you give us when it comes to choosing a Chesterfield conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a Chesterfield conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Chesterfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How many lease extensions have they completed in Chesterfield in the last 12 months?
• What are the costs for lease extension work?

If all goes to plan we aim to complete the sale of our £ 500000 flat in Chesterfield next Monday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Chesterfield?

Chesterfield conveyancing on leasehold maisonettes normally requires the buyer’s conveyancer sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is demanded should you wish to exchange contracts with the buyer.

What makes a Chesterfield lease problematic?

Leasehold conveyancing in Chesterfield is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Aldermore all have very detailed conveyancing instructions 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 provide security, forcing the purchaser to pull out.

I inherited a leasehold flat in Chesterfield, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Chesterfield with over 90 years remaining are worth £219,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease finishes on 21st October 2094

You have 68 years remaining on your lease the likely cost is going to range between £11,400 and £13,200 plus costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.