I have recently realised that I have 68 years remaining on my lease in Guiseley. I am keen to extend my lease but my freeholder is missing. What options are available to me?

If you meet the appropriate requirements, 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 mean that your lease can be extended by the Court. 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 would be useful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court overseeing Guiseley.

Due to sign contracts shortly on a basement flat in Guiseley. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• Whether your lease has a provision for a reserve fund?

I am employed by a reputable estate agent office in Guiseley where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Guiseley conveyancing firms. Could you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as 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. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible 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.

Can you offer any advice when it comes to finding a Guiseley conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Guiseley conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Guiseley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the practice with lease extension legislation?

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450000 apartment in Guiseley next week. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Guiseley?

Guiseley conveyancing on leasehold apartments often requires the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to sell the property.

I invested in buying a 1 bedroom flat in Guiseley, conveyancing having been completed in 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in Guiseley with a long lease are worth £178,000. The ground rent is £60 yearly. The lease terminates on 21st October 2093

With just 68 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.

Other Topics

Lease Extensions in Guiseley