I am in need of some leasehold conveyancing in Lansbury. Before diving in I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Lansbury - 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.

Expecting to sign contracts shortly on a ground floor flat in Lansbury. 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?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease permit a right of way over a path or staircase?
• Does the lease prohibit wood flooring?
• Are you allowed to have a pet in the flat?
• You should be told what constitutes a Nuisance in the lease
• You should have a good understanding of the insurance provisions

Estate agents have just been given the go-ahead to market my garden apartment in Lansbury.Conveyancing has not commenced but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am looking at a couple of flats in Lansbury which have in the region of 50 years unexpired on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Lansbury is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with under 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 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 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 Lansbury 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.

I am employed by a long established estate agency in Lansbury where we see a number of leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Lansbury conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension process 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 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.

I have given up seeking a lease extension in Lansbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to decide the sum to be paid.

An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Lansbury residence is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case was in relation to 2 flats. The the unexpired residue of the current lease was 80.01 years.

Leasehold Conveyancing in Lansbury - Examples of Queries before Purchasing

Please note if it is less than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the property for 24 months in order to be entitled to extend the lease.