I only have Fifty years left on my lease in Levenshulme. I am keen to extend my lease but my landlord is missing. 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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. For most situations an enquiry agent would be useful to conduct investigations and prepare a report which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Levenshulme.

Looking forward to exchange soon on a garden flat in Levenshulme. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

• Do you need to have carpet in the flat or are you allowed wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• 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?
• Responsibility for repairing the window frames
• What options are open to you if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I am tempted by the attractive purchase price for a two flats in Levenshulme which have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Levenshulme is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. For most purchasers and lenders, leases with under eighty years become less and less marketable. On a more upbeat 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 Levenshulme 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 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 any new 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 Levenshulme where we have experienced a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Levenshulme conveyancing firms. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?

As long as 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Are there frequently found deficiencies that you encounter in leases for Levenshulme properties?

Leasehold conveyancing in Levenshulme is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

I am the registered owner of a basement flat in Levenshulme, conveyancing formalities finalised 4 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Levenshulme with a long lease are worth £249,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease comes to an end on 21st October 2104

With just 78 years unexpired we estimate the premium for your lease extension to be between £11,400 and £13,200 plus professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.