There are only 62 years left on my lease in Kingsland. I am keen to extend my lease but my landlord is absent. What should I do?

If 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 Court. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. On the whole a specialist should be helpful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Kingsland.

Looking forward to sign contracts shortly on a basement flat in Kingsland. Conveyancing solicitors assured me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The physical extent of the property. This will be the apartment itself but could also include a roof space or basement if applicable.
• Setting out your rights in respect of common areas in the building.For instance, does the lease grant a right of way over an accessway or staircase?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I own a leasehold flat in Kingsland. Conveyancing and Britannia mortgage organised. I have received a letter from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Kingsland who previously acted has now retired.Any advice?

The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Kingsland conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, 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 couple of maisonettes in Kingsland which have about forty five years remaining on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Kingsland is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the property. For most purchasers and lenders, leases with under 75 years become less and less attractive. 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 premises 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 property 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 Kingsland 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.

Last month I purchased a leasehold property in Kingsland. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Kingsland conveyancing firm to assist?

Most certainly. We are happy to put you in touch with a Kingsland conveyancing firm who can help.

An example of a Lease Extension decision for a Kingsland property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The the unexpired term as at the valuation date was 80.5 years.

I invested in buying a 1 bedroom flat in Kingsland, conveyancing was carried out 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Kingsland with a long lease are worth £184,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease expires on 21st October 2086

You have 60 years unexpired we estimate the premium for your lease extension to be between £20,000 and £23,000 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.