Having checked my lease I have discovered that there are only 72 years remaining on my lease in Desford. I need to get lease extension but my freeholder is can not be found. 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to track down the landlord. On the whole an enquiry agent would be helpful to try and locate and prepare an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Desford.

Estate agents have just been given the go-ahead to market my 2 bed flat in Desford.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am looking at a couple of apartments in Desford both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Desford. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a busy estate agent office in Desford where we have witnessed a few flat sales put at risk as a result of short leases. I have been given contradictory information from local Desford conveyancing solicitors. Please can you confirm whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that 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. The benefit of this is that the proposed purchaser can avoid having to wait 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 disposal of the property.

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.

Are there frequently found problems that you encounter in leases for Desford properties?

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

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• 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

You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Coventry Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I purchased a 2 bed flat in Desford, conveyancing was carried out 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Desford with a long lease are worth £204,000. The average or mid-range amount of ground rent is £45 per annum. The lease runs out on 21st October 2081

You have 56 years left to run we estimate the premium for your lease extension to range between £28,500 and £33,000 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional 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 seeking the advice of a professional.

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Lease Extensions in Desford