I have recently realised that I have 68 years unexpired on my flat in Cockfosters. I now want to extend my lease but my landlord is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you have used your best endeavours to locate the lessor. In some cases an enquiry agent should be helpful to try and locate and to produce a report to 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 investigating the landlord’s absence and the application to the County Court overseeing Cockfosters.

I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Cockfosters. Conveyancing advisers have not yet been instructed. Will they explain the issues?

Most houses in Cockfosters are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Cockfosters so you should seriously consider looking for a Cockfosters conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is located on an estate. Your solicitor will report to you on the legal implications.

I am looking at a two flats in Cockfosters both have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

I am a negotiator for a long established estate agent office in Cockfosters where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Cockfosters conveyancing solicitors. Can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner 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. The benefit of this is that the proposed purchaser can avoid having to wait 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 buyer.

What advice can you give us when it comes to finding a Cockfosters conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Cockfosters conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Cockfosters conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How experienced is the practice with lease extension legislation?
• What are the costs for lease extension work?

I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Cockfosters conveyancing firm to represent me?

in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.

An example of a Freehold Enfranchisement case for a Cockfosters flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case was in relation to 2 flats. The the unexpired residue of the current lease was 70.31 years.

I invested in buying a split level flat in Cockfosters, conveyancing was carried out 2006. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Cockfosters with a long lease are worth £226,000. The average or mid-range amount of ground rent is £55 yearly. The lease finishes on 21st October 2091

You have 65 years unexpired we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt 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 without first seeking the advice of a professional.