Having had my offer accepted I require leasehold conveyancing in Cotgrave. Before I set the wheels in motion I would like to find out the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Cotgrave - 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.

Having checked my lease I have discovered that there are only 68 years unexpired on my lease in Cotgrave. I am keen to get lease extension but my freeholder is can not be found. What options are available to me?

If 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 enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. On the whole an enquiry agent would be helpful to conduct investigations and to produce a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Cotgrave.

I am a negotiator for a long established estate agent office in Cotgrave where we have witnessed a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Cotgrave conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with 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 buyer.

What advice can you give us when it comes to appointing a Cotgrave conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Cotgrave conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Cotgrave conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How familiar is the practice with lease extension legislation?

Do you have any top tips for leasehold conveyancing in Cotgrave with the purpose of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Cotgrave can be avoided if you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers solicitors.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Cotgrave state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such changes. Should you fail to have the paperwork to hand you should not communicate with the landlord without contacting your lawyer in the first instance.

I acquired a 2 bed flat in Cotgrave, conveyancing formalities finalised 1999. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Cotgrave with a long lease are worth £229,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2076

With 51 years remaining on your lease we estimate the price of your lease extension to span between £39,900 and £46,200 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Cotgrave