I own a leasehold house in Little Bromwich. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Little Bromwich who previously acted has now retired.Any advice?

First make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Little Bromwich conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a couple of maisonettes in Little Bromwich both have approximately forty five years unexpired on the leases. Will this present a problem?

There are plenty of short leases in Little Bromwich. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

I am employed by a long established estate agency in Little Bromwich where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Little Bromwich conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 disposal of the property.

An alternative approach is 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.

Can you offer any advice when it comes to finding a Little Bromwich conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Little Bromwich conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Little Bromwich conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• What volume of lease extensions has the firm conducted in Little Bromwich in the last twenty four months?

What are the frequently found deficiencies that you see in leases for Little Bromwich properties?

There is nothing unique about leasehold conveyancing in Little Bromwich. Most leases are unique and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

I purchased a leasehold flat in Little Bromwich, conveyancing was carried out 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Little Bromwich with a long lease are worth £254,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2094

With 70 years left to run the likely cost is going to range between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.

Other Topics

Lease Extensions in Little Bromwich