Having had my offer accepted I require leasehold conveyancing in Harefield. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Harefield - then the leasehold title will always include the basic details 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.

I am looking at a couple of apartments in Harefield both have about 50 years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Harefield is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most purchasers and banks, leases with under eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Harefield conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am employed by a reputable estate agent office in Harefield where we see a number of leasehold sales derailed as a result of short leases. I have been given contradictory information from local Harefield conveyancing solicitors. Please can you confirm whether the seller of a flat can commence 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means 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 before, or simultaneously with 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 choosing a Harefield conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Harefield conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Harefield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?
• What are the charges for lease extension work?

Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Harefield. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We can put you in touch with a Harefield conveyancing firm who can help.

An example of a Lease Extension decision for a Harefield property is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The the unexpired term as at the valuation date was 71 years.

What are the common problems that you encounter in leases for Harefield properties?

There is nothing unique about leasehold conveyancing in Harefield. Most leases is drafted differently and drafting errors can result in certain sections 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 building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Bank of Scotland, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I am the registered owner of a 2 bed flat in Harefield, conveyancing having been completed 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Harefield with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ceases on 21st October 2091

You have 65 years left to run we estimate the premium for your lease extension to span between £14,300 and £16,400 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.