I only have 68 years remaining on my lease in Belmont. I now wish to extend my lease but my landlord is can not be found. What should I do?

If you qualify, 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 done all that could be expected to locate the freeholder. On the whole a specialist may be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Belmont.

I am hoping to sign contracts shortly on a leasehold property in Belmont. Conveyancing lawyers inform me that they are sending me a report tomorrow. What should I be looking out for?

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

• Does the lease prohibit 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
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What you can do if a neighbour is in violation of a provision in their lease?

I am a negotiator for a long established estate agent office in Belmont where we have experienced a few leasehold sales put at risk due to short leases. I have received conflicting advice from local Belmont conveyancing firms. Could you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

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 proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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.

Do you have any top tips for leasehold conveyancing in Belmont from the perspective of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Belmont can be avoided where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Belmont state that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you dont have the paperwork to hand you should not contact the landlord without checking with your lawyer first.
• Some Belmont leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
• If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
• You believe that you know the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Belmont. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Most certainly. We can put you in touch with a Belmont conveyancing firm who can help.

An example of a Lease Extension decision for a Belmont flat is 197 Byron Road in March 2013. In relation to the value of the extended lease the tribunal concluded that the appropriate premium should be £19237 This case was in relation to 1 flat. The the unexpired residue of the current lease was 70.92 years.

What are the common problems that you see in leases for Belmont properties?

Leasehold conveyancing in Belmont is not unique. All leases are unique and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the property
• 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

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I own a ground floor flat in Belmont, conveyancing having been completed 8 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Belmont with a long lease are worth £269,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2096

With only 70 years left to run we estimate the premium for your lease extension to span between £10,500 and £12,000 plus legals.

The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.