Having had my offer accepted I require leasehold conveyancing in Ottershaw. Before I get started I want to be sure as to the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in Ottershaw - 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.

There are only Fifty years left on my flat in Ottershaw. I now want to get lease extension but my freeholder is missing. What options are available to me?

If 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 mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to locate the lessor. On the whole a specialist would be helpful to try and locate and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Ottershaw.

I work for a reputable estate agency in Ottershaw where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local Ottershaw conveyancing firms. Could you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

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 buyer 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 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 purchaser.

Can you offer any advice when it comes to finding a Ottershaw conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Ottershaw conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Ottershaw conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• If they are not ALEP accredited then why not?

What are the legal fees for lease extension conveyancing?

If all goes to plan we aim to complete the disposal of our £425000 maisonette in Ottershaw in seven days. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Ottershaw?

Ottershaw conveyancing on leasehold flats nine out of ten times involves administration charges invoiced by landlords agents :

• Answering pre-exchange enquiries
• Where consent is required before sale in Ottershaw
• 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 Ottershaw leasehold property is £350. For Ottershaw 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.

I invested in buying a 1st floor flat in Ottershaw, conveyancing was carried out in 1999. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Ottershaw with a long lease are worth £248,000. The ground rent is £55 per annum. The lease ends on 21st October 2104

You have 79 years remaining on your lease we estimate the price of your lease extension to be between £9,500 and £11,000 plus costs.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Ottershaw