I only have 72 years unexpired on my lease in Earl Shilton. I am keen to get lease extension but my landlord is missing. What are my options?

If you qualify, 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 magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations a specialist would be useful to try and locate and to produce a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Earl Shilton.

I am hoping to exchange soon on a studio apartment in Earl Shilton. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Earl Shilton should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark

I have just appointed agents to market my basement apartment in Earl Shilton.Conveyancing has not commenced but I have just received a quarterly maintenance charge demand – Do I pay up?

It best that you pay the invoice 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 management companies will not acknowledge the buyer unless 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 a negotiator for a busy estate agent office in Earl Shilton where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given conflicting advice from local Earl Shilton conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

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. This means that the proposed purchaser need not have 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.

What are your top tips when it comes to finding a Earl Shilton conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Earl Shilton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Earl Shilton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• If the firm is not ALEP accredited then what is the reason?

I am the registered owner of a 1st floor flat in Earl Shilton, conveyancing having been completed in 1997. Can you work out an approximate cost of a lease extension? Corresponding properties in Earl Shilton with over 90 years remaining are worth £224,000. The average or mid-range amount of ground rent is £65 yearly. The lease comes to an end on 21st October 2105

With 80 years unexpired the likely cost is going to be between £9,500 and £11,000 plus costs.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Earl Shilton