I am on look out for some leasehold conveyancing in Shildon. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Shildon - 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 only have Sixty One years remaining on my lease in Shildon. I now wish to get lease extension but my landlord is can not be found. 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 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 locate the freeholder. In some cases an enquiry agent would be helpful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the application to the County Court overseeing Shildon.

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

When appointing a property lawyer for lease extension works (regardless if they are a Shildon conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with two or three firms including non Shildon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the firm with lease extension legislation?
• What are the costs for lease extension work?

Can you provide any top tips for leasehold conveyancing in Shildon from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Shildon can be avoided where you instruct lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
• Many freeholders or managing agents in Shildon charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Shildon.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Shildon state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you dont have the consents to hand do not communicate with the landlord without contacting your conveyancer in advance.
• Some Shildon leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 purchasers or their lawyers.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 reveal the dispute as historic as opposed to ongoing.

When it comes to leasehold conveyancing in Shildon what are the most common lease defects?

Leasehold conveyancing in Shildon is not unique. All leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Coventry Building Society, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

I purchased a 1 bedroom flat in Shildon, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Shildon with over 90 years remaining are worth £168,000. The ground rent is £45 levied per year. The lease runs out on 21st October 2077

With just 51 years left to run we estimate the price of your lease extension to span between £36,100 and £41,800 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues 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 placing reliance on this information without first getting professional advice.