Having checked my lease I have discovered that there are only Sixty One years unexpired on my lease in Lydney. I now wish to get lease extension but my landlord is missing. What options are available to me?

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 magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. For most situations a specialist would be useful to conduct investigations and prepare a report to be used as proof that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Lydney.

My wife and I purchased a leasehold flat in Lydney. Conveyancing and Nottingham Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Lydney who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Lydney conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a busy estate agent office in Lydney where we see a number of leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Lydney conveyancing firms. Please can you clarify whether the vendor of a flat can commence the lease extension formalities for the buyer?

As long as 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 purchaser.

Do you have any advice for leasehold conveyancing in Lydney with the purpose of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Lydney can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• Many freeholders or Management Companies in Lydney levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Lydney.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Lydney leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such works. If you fail to have the approvals to hand you should not communicate with the landlord without contacting your conveyancer in advance.
• If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy process and frustrates many a Lydney conveyancing transaction. If a new share certificate is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

What are the frequently found problems that you see in leases for Lydney properties?

Leasehold conveyancing in Lydney is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Clydesdale all have express conveyancing instructions 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 pull out.

I bought a 1 bedroom flat in Lydney, conveyancing having been completed in 1996. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Lydney with an extended lease are worth £270,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2076

With 50 years unexpired the likely cost is going to be between £43,700 and £50,600 as well as professional fees.

The suggested premium range above 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. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.