There are only 68 years unexpired on my flat in Turnpike Lane. I now want to extend my lease 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 submit an application 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 magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the lessor. In some cases a specialist should be useful to try and locate and to produce a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Turnpike Lane.

I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Turnpike Lane. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Turnpike Lane ?

Most houses in Turnpike Lane 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 Turnpike Lane in which case you should be shopping around for a Turnpike Lane conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.

I am looking at a two flats in Turnpike Lane which have about fifty years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Turnpike Lane is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and mortgage companies, leases with under 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 premises 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 Turnpike Lane 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 am employed by a busy estate agency in Turnpike Lane where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Turnpike Lane conveyancing firms. Can you clarify whether the vendor of a flat can instigate 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 prior to, 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 buyer.

What advice can you give us when it comes to choosing a Turnpike Lane conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Turnpike Lane conveyancing practice) 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 Turnpike Lane conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• If they are not ALEP accredited then what is the reason?

I own a basement flat in Turnpike Lane. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?

if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.

An example of a Lease Extension decision for a Turnpike Lane residence is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The the unexpired term as at the valuation date was 81.79 years.