There are only Fifty years remaining on my flat in Aldwych. I now wish to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 or your lawyers have made all reasonable attempts to track down the landlord. On the whole a specialist would be helpful to carry out a search and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the application to the County Court covering Aldwych.

I have just appointed agents to market my 2 bed flat in Aldwych.Conveyancing has not commenced but I have just received a yearly service charge invoice – Do I pay up?

It best that you clear 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 management companies will not acknowledge the buyer unless 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've recently bought a leasehold flat in Aldwych. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

What advice can you give us when it comes to choosing a Aldwych conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Aldwych conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Aldwych conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How many lease extensions has the firm carried out in Aldwych in the last 12 months?
• What are the legal fees for lease extension work?

Can you provide any advice for leasehold conveyancing in Aldwych with the purpose of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Aldwych can be avoided if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Aldwych leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such changes. If you fail to have the paperwork to hand do not communicate with the landlord without checking with your solicitor before hand.
• A minority of Aldwych leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate can be a lengthy process and frustrates many a Aldwych conveyancing deal. If a new share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

We have reached the end of our tether in trying to purchase the freehold in Aldwych. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

An example of a Freehold Enfranchisement matter before the tribunal for a Aldwych premises is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The remaining number of years on the lease was 73.26 years.

I inherited a studio flat in Aldwych, conveyancing having been completed 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Aldwych with a long lease are worth £264,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2090

With just 64 years left to run we estimate the price of your lease extension to range between £20,900 and £24,200 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.