I am in need of some leasehold conveyancing in Derby. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Derby - then the leasehold title will always include the basic details 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 62 years unexpired on my flat in Derby. I need to get lease extension but my landlord 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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the landlord. In some cases a specialist should be helpful to try and locate 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 property lawyer both on devolving into the landlord’s absence and the application to the County Court covering Derby.

Back In 2001, I bought a leasehold flat in Derby. Conveyancing and Yorkshire Building Society mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Derby who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Derby conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a reputable estate agent office in Derby where we have witnessed a few flat sales jeopardised due to short leases. I have been given contradictory information from local Derby conveyancing solicitors. Could you confirm whether the vendor of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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.

Do you have any top tips for leasehold conveyancing in Derby with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Derby can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• The majority freeholders or Management Companies in Derby levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Derby.
• Some Derby leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 75 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Derby Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

Its a good idea to find out as much as you can concerning the company managing the building as they will either make life much easier or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical matters such as the upkeep of the communal areas. Ask other tenants if they are happy with their service. In conclusion, be sure you know the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes. What is the the remaining lease term? If a Derby lease has fewer than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will most likely need a lease extension at some point and it is worth finding out how much this would cost. For most Derbylease extensions you will need to own the residence for two years before you are entitled to carry out a lease extension.