I am on look out for some leasehold conveyancing in Eaglescliffe. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Eaglescliffe - 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.

Due to sign contracts shortly on a ground floor flat in Eaglescliffe. Conveyancing lawyers inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

• Setting out your rights in relation to common areas in the block.For example, does the lease provide for a right of way over a path or hallways?

Back In 2001, I bought a leasehold house in Eaglescliffe. Conveyancing and Norwich and Peterborough Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Eaglescliffe who acted for me is not around.Do I pay?

First contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Eaglescliffe conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a busy estate agency in Eaglescliffe where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Eaglescliffe conveyancing firms. Could you confirm whether the vendor of a flat can initiate 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 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 before, 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.

When it comes to leasehold conveyancing in Eaglescliffe what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Eaglescliffe. All leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Barnsley Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

I bought a basement flat in Eaglescliffe, conveyancing formalities finalised 1999. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Eaglescliffe with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £60 yearly. The lease ceases on 21st October 2093

With just 68 years left to run we estimate the price of your lease extension to range between £12,400 and £14,200 plus 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 are not able to provide the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

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Lease Extensions in Eaglescliffe