Having had my offer accepted I require leasehold conveyancing in Ramsbottom. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Ramsbottom - 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 68 years unexpired on my lease in Ramsbottom. I now want to get lease extension but my landlord is absent. 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 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. However, you will be required to prove that you have used your best endeavours to locate the freeholder. For most situations a specialist may be helpful to try and locate and to produce a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court covering Ramsbottom.

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

When appointing a conveyancer for your lease extension (regardless if they are a Ramsbottom conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Ramsbottom conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

• How familiar is the practice with lease extension legislation?
• Can they put you in touch with client in Ramsbottom who can give a testimonial?

Do you have any top tips for leasehold conveyancing in Ramsbottom from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Ramsbottom can be reduced where you appoint lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
• A minority of Ramsbottom leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
• If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a time consuming process and delays many a Ramsbottom home move. If a duplicate share is required, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is below 75 years. It is therefore important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

What makes a Ramsbottom lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Ramsbottom. All leases are unique and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• 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

You could 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. Birmingham Midshires, Virgin Money, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

I inherited a garden flat in Ramsbottom, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Ramsbottom with over 90 years remaining are worth £175,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2100

With just 74 years remaining on your lease we estimate the premium for your lease extension to be between £12,400 and £14,200 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.