I am in need of some leasehold conveyancing in Nag's Head. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Nag's Head - 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.

I would like to sublet my leasehold flat in Nag's Head. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A lease dictates the relationship between the landlord and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Nag's Head do not contain an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am looking at a two maisonettes in Nag's Head which have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in Nag's Head is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and banks, leases with less than 75 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 a residence 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 Nag's Head 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 the agreed 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 work for a busy estate agent office in Nag's Head where we have witnessed a few flat sales derailed as a result of short leases. I have been given contradictory information from local Nag's Head conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease 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. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is 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.

All being well we will complete our sale of a £ 350000 flat in Nag's Head in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Nag's Head?

Nag's Head conveyancing on leasehold maisonettes often involves the purchaser’s solicitor sending questions for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is requested of you if you want to sell the property.

My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Nag's Head. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the amount due.

An example of a Freehold Enfranchisement decision for a Nag's Head premises is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The unexpired lease term was 71 years.

I purchased a basement flat in Nag's Head, conveyancing formalities finalised in 2005. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Nag's Head with a long lease are worth £201,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2098

You have 72 years left to run the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.