Having had my offer accepted I require leasehold conveyancing in Peterborough. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and most are in Peterborough - 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 remaining on my lease in Peterborough. I now wish to extend my lease but my freeholder is absent. What are my options?

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 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 or your lawyers have done all that could be expected to track down the freeholder. On the whole an enquiry agent would be helpful to conduct investigations and to produce an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court covering Peterborough.

I've recently bought a leasehold property in Peterborough. Am I liable to pay service charges for periods before my ownership?

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 be sure 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).

Can you offer any advice when it comes to finding a Peterborough conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Peterborough conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Peterborough 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 familiar is the firm with lease extension legislation?

All being well we will complete our sale of a £350000 apartment in Peterborough in nine days. The landlords agents has quoted £348 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Peterborough?

Peterborough conveyancing on leasehold apartments normally involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I purchased a studio flat in Peterborough, conveyancing was carried out 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Peterborough with over 90 years remaining are worth £202,000. The ground rent is £45 yearly. The lease runs out on 21st October 2079

You have 54 years left to run we estimate the price of your lease extension to span between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.

Other Topics

Lease Extensions in Peterborough