There are only Seventy years unexpired on my flat in Cubitt Town. I now wish to extend my lease but my landlord is missing. What should I do?

On the basis that 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 lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the freeholder. For most situations a specialist would be useful to carry out a search and prepare an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Cubitt Town.

I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Cubitt Town. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Cubitt Town are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cubitt Town so you should seriously consider looking for a Cubitt Town conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I am attracted to a two flats in Cubitt Town which have in the region of fifty years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Cubitt Town. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

I work for a long established estate agency in Cubitt Town where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local Cubitt Town conveyancing solicitors. Please can 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. The benefit of this is that the proposed purchaser 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 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.

What are your top tips when it comes to choosing a Cubitt Town conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Cubitt Town conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Cubitt Town conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How many lease extensions have they conducted in Cubitt Town in the last 12 months?
• Can they put you in touch with client in Cubitt Town who can give a testimonial?

I own a ground floor flat in Cubitt Town. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

Absolutely. We are happy to put you in touch with a Cubitt Town conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Cubitt Town property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The the unexpired term as at the valuation date was 101.61 years.

I invested in buying a leasehold flat in Cubitt Town, conveyancing was carried out 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Cubitt Town with an extended lease are worth £200,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2090

With 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. Do not use the figures 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 want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.