Having checked my lease I have discovered that there are only Fifty years remaining on my lease in Bulls Cross. I need to get lease extension but my landlord is can not be found. 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 an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the lessor. For most situations a specialist should be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Bulls Cross.

Planning to sign contracts shortly on a basement flat in Bulls Cross. Conveyancing lawyers have said that they will have a report out to me tomorrow. What should I be looking out for?

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

• The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Are pets allowed in the flat?
• Does the lease prevent you from letting out the property, or having a home office for business
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• 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've recently bought a leasehold property in Bulls Cross. Do I have any liability for service charges relating to a period prior to 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. Strange as it may seem, 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).

I work for a long established estate agency in Bulls Cross where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Bulls Cross conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension process 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. The benefit of this is that the buyer can avoid having 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 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 buyer.

Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Bulls Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Bulls Cross residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The remaining number of years on the lease was 81.79 years.

In relation to leasehold conveyancing in Bulls Cross what are the most common lease defects?

Leasehold conveyancing in Bulls Cross is not unique. All leases are unique and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may 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. National Westminster Bank, Norwich and Peterborough Building Society, and Clydesdale all have very detailed 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, obliging the buyer to pull out.

I own a 1st floor flat in Bulls Cross, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bulls Cross with an extended lease are worth £231,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease finishes on 21st October 2076

With only 50 years remaining on your lease we estimate the premium for your lease extension to range between £33,300 and £38,400 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do 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 clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.