There are only 62 years unexpired on my flat in Frenchay. I need to get lease extension but my landlord is can not be found. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be useful to conduct investigations and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Frenchay.

I am looking at a couple of flats in Frenchay both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Frenchay 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 marketability of the property. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less attractive. 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 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 Frenchay 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 a negotiator for a reputable estate agent office in Frenchay where we see a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local Frenchay conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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 purchaser.

What are your top tips when it comes to appointing a Frenchay conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Frenchay conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Frenchay conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the practice with lease extension legislation?
• How many lease extensions have they completed in Frenchay in the last 12 months?

Can you provide any top tips for leasehold conveyancing in Frenchay with the purpose of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Frenchay can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers conveyancers.
• The majority landlords or Management Companies in Frenchay charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Frenchay.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Frenchay state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. If you fail to have the approvals to hand do not contact the landlord without checking with your lawyer before hand.
• If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unsettled.
• If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Arranging a new share certificate can be a lengthy process and delays many a Frenchay conveyancing deal. Where a reissued share is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

Leasehold Conveyancing in Frenchay - A selection of Questions you should consider before buying

What prohibitions are contained in the Frenchay Lease? Are any of leasehold owners in dispute over their service charge liability?