I only have Fifty years unexpired on my lease in Levenshulme. I need to get lease extension but my freeholder is absent. What are my options?

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 enable the lease to 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 freeholder. In some cases a specialist may be useful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Levenshulme.

Expecting to sign contracts shortly on a ground floor flat in Levenshulme. Conveyancing solicitors have said that they will have a report out to me tomorrow. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
• The physical extent of the property. This will be the apartment itself but might incorporate a roof space or cellar if appropriate.
• Does the lease require carpeting throughout thus preventing wood flooring?
• You should be told what counts as a Nuisance in the lease
• Repair and maintenance of the flat
• What the implications are if you breach a clause of your lease?

I am tempted by the attractive purchase price for a two maisonettes in Levenshulme which have approximately fifty years left on the leases. should I be concerned?

There are plenty of short leases in Levenshulme. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I work for a reputable estate agent office in Levenshulme where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Levenshulme conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 buyer.

In relation to leasehold conveyancing in Levenshulme what are the most common lease problems?

Leasehold conveyancing in Levenshulme is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• 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

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Leeds 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 is problematic they may refuse to provide security, obliging the buyer to pull out.

I bought a ground floor flat in Levenshulme, conveyancing was carried out in 2006. Can you work out an approximate cost of a lease extension? Comparable flats in Levenshulme with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £65 levied per year. The lease terminates on 21st October 2083

With just 57 years left to run we estimate the premium for your lease extension to span between £24,700 and £28,600 as well as costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional 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 before seeking the advice of a professional.