I am in need of some leasehold conveyancing in Groby. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Groby - 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.

I am hoping to exchange soon on a garden flat in Groby. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?

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

• The total extent of the premises. This will be the property itself but might incorporate a roof space or basement if applicable.

I own a leasehold house in Groby. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Groby who previously acted has now retired.Any advice?

First contact HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Groby conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, 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 attracted to a two apartments in Groby both have about forty five years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Groby is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and mortgage companies, leases with less than eighty years become less and less marketable. On a more positive 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 Groby 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 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.

Last month I purchased a leasehold property in Groby. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am the registered owner of a 1 bedroom flat in Groby, conveyancing having been completed in 2004. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Groby with over 90 years remaining are worth £223,000. The average or mid-range amount of ground rent is £60 levied per year. The lease finishes on 21st October 2090

With just 65 years left to run we estimate the price of your lease extension to span between £18,100 and £20,800 plus plus your own and the landlord's "reasonable" professional fees.

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

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Lease Extensions in Groby