I have recently realised that I have 68 years remaining on my flat in Dursley. I need to extend my lease but my landlord is absent. What options are available to me?

On the basis that 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 extended by the Court. However, you will be required to prove that you have done all that could be expected to track down the freeholder. For most situations an enquiry agent may be helpful to conduct investigations and to produce a report to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Dursley.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Dursley. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in Dursley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Dursley so you should seriously consider looking for a Dursley conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a couple of maisonettes in Dursley both have about forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Dursley is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises 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 a residence 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 Dursley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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 a negotiator for a busy estate agent office in Dursley where we see a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Dursley conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

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. The benefit of this is that the buyer need not have to wait 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 agree the lease extension with the freeholder 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.

Do you have any advice for leasehold conveyancing in Dursley from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Dursley can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
• Many landlords or managing agents in Dursley levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Dursley.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Dursley leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such changes. If you dont have the paperwork to hand you should not contact the landlord without contacting your conveyancer in advance.
• A minority of Dursley leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Arranging a replacement share certificate is often a time consuming process and delays many a Dursley home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later.

I purchased a ground floor flat in Dursley, conveyancing formalities finalised 8 years ago. How much will my lease extension cost? Corresponding flats in Dursley with a long lease are worth £180,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2077

You have 51 years unexpired we estimate the price of your lease extension to range between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.