I am on look out for some leasehold conveyancing in Northop. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Northop - then the leasehold title will always include the basic details 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 Seventy years unexpired on my flat in Northop. I need to extend my lease but my freeholder is can not be found. What should I do?

If you qualify, 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. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent would be helpful 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 solicitor in relation to investigating the landlord’s absence and the application to the County Court covering Northop.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Northop. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Northop ?

The majority of houses in Northop are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Northop in which case you should be looking for a Northop conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your solicitor will report to you on the legal implications.

I am employed by a busy estate agency in Northop where we have experienced a few flat sales put at risk due to short leases. I have received conflicting advice from local Northop conveyancing firms. Please can you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?

As long as the seller has owned the lease 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. The benefit of this is 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 prior to, or simultaneously with completion of the sale.

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 buyer.

What are the common deficiencies that you encounter in leases for Northop properties?

Leasehold conveyancing in Northop is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• 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

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Coventry Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

I own a 1st floor flat in Northop, conveyancing was carried out in 2001. How much will my lease extension cost? Corresponding flats in Northop with an extended lease are worth £241,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2097

You have 72 years left to run the likely cost is going to range between £9,500 and £11,000 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Northop