I only have Sixty One years left on my flat in Newbridge. I now wish to get lease extension but my landlord is absent. What options are available to me?

On the basis that 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 enable the lease to be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to find the freeholder. In some cases an enquiry agent should be helpful to carry out a search and prepare a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Newbridge.

I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Newbridge. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Newbridge are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Newbridge in which case you should be looking for a Newbridge conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

I am tempted by the attractive purchase price for a two apartments in Newbridge which have approximately fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Newbridge is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and mortgage companies, leases with less than eighty 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 premises 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 Newbridge 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 any new 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.

What advice can you give us when it comes to choosing a Newbridge conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Newbridge conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Newbridge 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:

• If they are not ALEP accredited then why not?
• How many lease extensions has the firm carried out in Newbridge in the last year?

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 150000 apartment in Newbridge in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Newbridge?

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

• Addressing pre-exchange enquiries
• Where consent is required before sale in Newbridge
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Newbridge leasehold premises is £350. For Newbridge 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 provide the information.

Leasehold Conveyancing in Newbridge - Examples of Queries before buying

Best to be warned if a new roof is being put on or some other significant cost is due in the foreseeable future to be shared between the leaseholders and will materially increase the the service charges or result in a specific invoice.