Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Craven Arms. I now wish to extend my lease but my landlord is can not be found. What should I do?

On the basis that you qualify, 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 enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent may be helpful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Craven Arms.

I am hoping to exchange soon on a ground floor flat in Craven Arms. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Craven Arms should include some of the following:

• You should receive a copy of the lease

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Craven Arms. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Craven Arms ?

The majority of houses in Craven Arms are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Craven Arms in which case you should be shopping around for a Craven Arms conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

Last month I purchased a leasehold house in Craven Arms. 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 lessee 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. 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).

I am a negotiator for a long established estate agent office in Craven Arms where we have experienced a number of flat sales derailed as a result of short leases. I have received contradictory information from local Craven Arms conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is 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 purchaser.

I am the registered owner of a studio flat in Craven Arms, conveyancing formalities finalised 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Craven Arms with an extended lease are worth £228,000. The ground rent is £45 invoiced every year. The lease expires on 21st October 2102

With just 76 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.

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Lease Extensions in Craven Arms