Having had my offer accepted I require leasehold conveyancing in Eaton Bray. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Eaton Bray - then the leasehold title will always include the short particulars 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.

I have just started marketing my ground floor apartment in Eaton Bray.Conveyancing is yet to be initiated but I have just had a yearly service charge invoice – what should I do?

The sensible thing to do is clear 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold flat in Eaton Bray. Conveyancing and Accord Mortgages Ltd mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Eaton Bray who acted for me is not around.Do I pay?

First contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Eaton Bray conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in Eaton Bray which have approximately forty five years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Eaton Bray is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and banks, leases with less than 75 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 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 Eaton Bray 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.

Do you have any advice for leasehold conveyancing in Eaton Bray from the point of view of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Eaton Bray can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
• If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Eaton Bray leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord approving such changes. Should you fail to have the consents in place do not contact the landlord without contacting your lawyer before hand.
• A minority of Eaton Bray leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet 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 hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a duplicate share certificate can be a lengthy formality and frustrates many a Eaton Bray home move. If a new share is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I bought a ground floor flat in Eaton Bray, conveyancing having been completed in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Eaton Bray with an extended lease are worth £195,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2082

With 56 years unexpired the likely cost is going to span between £28,500 and £33,000 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.