Having checked my lease I have discovered that there are only Sixty One years left on my lease in Ratcliff. I now wish to get lease extension but my landlord is missing. What should I do?

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 extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to track down the landlord. In some cases a specialist should be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court overseeing Ratcliff.

My wife and I purchased a leasehold house in Ratcliff. Conveyancing and The Royal Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Ratcliff who previously acted has long since retired.Any advice?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Ratcliff conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of maisonettes in Ratcliff both have in the region of fifty years unexpired on the lease term. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold property in Ratcliff. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Ratcliff with the intention of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Ratcliff can be reduced where you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers lawyers.
• Many freeholders or Management Companies in Ratcliff charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Ratcliff.
• A minority of Ratcliff leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Arranging a new share certificate can be a lengthy formality and frustrates many a Ratcliff conveyancing transaction. If a duplicate share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I have had difficulty in seeking a lease extension in Ratcliff. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing landlord or if there is disagreement 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 Leasehold Valuation Tribunal to calculate the sum to be paid.

An example of a Freehold Enfranchisement case for a Ratcliff flat 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 was in relation to 3 flats. The unexpired term was 101.61 years.

I inherited a 1st floor flat in Ratcliff, conveyancing was carried out 2007. How much will my lease extension cost? Comparable flats in Ratcliff with an extended lease are worth £199,000. The ground rent is £55 invoiced annually. The lease ceases on 21st October 2102

You have 76 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus costs.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.