I have recently realised that I have Fifty years unexpired on my flat in Newent. I need to get lease extension but my freeholder is can not be found. 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 for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the freeholder. On the whole a specialist should be helpful to conduct investigations and to produce a report to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Newent.

I have just appointed agents to market my 2 bed apartment in Newent.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Newent. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Newent ?

Most houses in Newent are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Newent in which case you should be looking for a Newent conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I am a negotiator for a long established estate agent office in Newent where we see a number of flat sales put at risk due to short leases. I have been given inconsistent advice from local Newent conveyancing solicitors. Please can you clarify whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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 makes a Newent lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Newent. All leases are unique and drafting errors can sometimes mean that certain clauses are not included. 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 premises
• A duty to insure the building
• 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Leeds Building Society, and Alliance & Leicester 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 provide security, obliging the purchaser to pull out.

I bought a studio flat in Newent, conveyancing formalities finalised in 2006. How much will my lease extension cost? Equivalent properties in Newent with an extended lease are worth £226,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease runs out on 21st October 2085

You have 59 years left to run we estimate the price of your lease extension to be between £20,900 and £24,200 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.