My wife and I purchased a leasehold house in Saxilby. Conveyancing and Nationwide Building Society mortgage are in place. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Saxilby who acted for me is not around.What should I do?

First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Saxilby conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold flat in Saxilby. Am I liable to pay service charges for periods before completion of my purchase?

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).

I am employed by a reputable estate agent office in Saxilby where we see a few flat sales put at risk due to short leases. I have received conflicting advice from local Saxilby conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have 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 purchaser.

What advice can you give us when it comes to appointing a Saxilby conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Saxilby conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Saxilby conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• What volume of lease extensions have they carried out in Saxilby in the last 12 months?

Do you have any top tips for leasehold conveyancing in Saxilby with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Saxilby can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
• Many freeholders or Management Companies in Saxilby levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Saxilby.

I purchased a basement flat in Saxilby, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Saxilby with a long lease are worth £255,000. The ground rent is £50 invoiced annually. The lease finishes on 21st October 2083

With just 58 years unexpired the likely cost is going to span between £23,800 and £27,400 as well as professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Saxilby