Having had my offer accepted I require leasehold conveyancing in Hornsea. Before I get started I want to be sure as to the number of years remaining on the lease.

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

Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Hornsea. I am keen to get lease extension but my landlord is missing. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. For most situations a specialist would be useful to conduct investigations and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Hornsea.

I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Hornsea. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Hornsea are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hornsea so you should seriously consider looking for a Hornsea conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I work for a reputable estate agency in Hornsea where we have experienced a number of flat sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Hornsea conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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.

Can you provide any advice for leasehold conveyancing in Hornsea from the point of view of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Hornsea can be reduced where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
• Many freeholders or Management Companies in Hornsea charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Hornsea.

I invested in buying a leasehold flat in Hornsea, conveyancing was carried out half a dozen years ago. 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? Similar properties in Hornsea with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 yearly. The lease comes to an end on 21st October 2078

With 54 years unexpired we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as costs.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Hornsea