I am in need of some leasehold conveyancing in Yeading. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and almost all are in Yeading - 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 have recently realised that I have 72 years remaining on my flat in Yeading. I now want to extend my lease but my landlord is can not be found. What should I do?

If 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 for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you have made all reasonable attempts to track down the freeholder. In some cases an enquiry agent would be useful to carry out a search and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court covering Yeading.

I am attracted to a couple of maisonettes in Yeading which have about forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Yeading is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers 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 Yeading 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 long established estate agent office in Yeading where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Yeading conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

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. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible 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 purchaser.

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

If you are instructing a solicitor for lease extension works (regardless if they are a Yeading conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Yeading conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?
• Can they put you in touch with client in Yeading who can give a testimonial?

I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Yeading conveyancing firm to act on my behalf?

You certainly can. We are happy to put you in touch with a Yeading conveyancing firm who can help.

An example of a lease Extension case for a Yeading property is 25 Beechwood Avenue in November 2012. the Tribunal accordingly determined that the premium for the lease extension should be £24,353. This case related to 1 flat. The unexpired lease term was 58.19 years.

I purchased a garden flat in Yeading, conveyancing was carried out in 1999. Can you work out an approximate cost of a lease extension? Equivalent flats in Yeading with a long lease are worth £270,000. The ground rent is £50 per annum. The lease ceases on 21st October 2084

With only 58 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 as well as 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 cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.