I am in need of some leasehold conveyancing in Farringdon. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in Farringdon - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

There are only 62 years unexpired on my flat in Farringdon. I am keen to get lease extension but my landlord is missing. What are my options?

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 an order 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 made all reasonable attempts to find the landlord. On the whole a specialist would be helpful to carry out a search and prepare a report which can be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court covering Farringdon.

I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Farringdon. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Farringdon ?

Most houses in Farringdon are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Farringdon in which case you should be looking for a Farringdon conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

I am attracted to a couple of maisonettes in Farringdon which have about fifty years unexpired on the leases. Do I need to be concerned?

There are plenty of short leases in Farringdon. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease decreases 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 difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to finding a Farringdon conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Farringdon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Farringdon conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• How familiar is the firm with lease extension legislation?

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Farringdon conveyancing firm to act on my behalf?

in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to assess the premium.

An example of a Lease Extension matter before the tribunal for a Farringdon flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term was 66.8 years.