Having had my offer accepted I require leasehold conveyancing in Dronfield. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Dronfield - 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.

There are only 62 years left on my lease in Dronfield. I need to extend my lease but my freeholder 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 an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole a specialist would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Dronfield.

I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Dronfield. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in Dronfield are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Dronfield so you should seriously consider shopping around for a Dronfield conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.

I am looking at a two maisonettes in Dronfield which have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Dronfield is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with less than 75 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 property 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 premises 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 Dronfield 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.

I am employed by a long established estate agency in Dronfield where we have experienced a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Dronfield conveyancing firms. Please can you confirm whether the vendor of a flat can commence 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 before, 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.

Leasehold Conveyancing in Dronfield - Sample of Questions you should ask Prior to buying

Plenty Dronfield leasehold flats will be liable to pay a service bill for maintenance of the building invoiced by the landlord. Where you buy the flat you will have to pay this liability, usually quarterly during the year. This could vary from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a ground rent to be met annual, this is usually not a large sum, say around £25-£75 but you need to enquire as occasionally it could be prohibitively expensive. The answer will be important as a) areas may cause problems in the block as the communal areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will wish to have all the details