I have recently realised that I have Sixty One years remaining on my flat in Markfield. I now want to get lease extension but my freeholder is missing. What options are available to me?

If you qualify, 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 mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to locate the landlord. In some cases an enquiry agent would be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Markfield.

Last month I purchased a leasehold flat in Markfield. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).

What are your top tips when it comes to choosing a Markfield conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Markfield 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 Markfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?

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

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £200000 flat in Markfield next week. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Markfield?

For most leasehold sales in Markfield conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Addressing pre-exchange questions
• Where consent is required before sale in Markfield
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Markfield leasehold property is £350. For Markfield conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

What makes a Markfield lease defective?

Leasehold conveyancing in Markfield is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.

I acquired a ground floor flat in Markfield, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Markfield with a long lease are worth £209,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2105

With 80 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Markfield