Having checked my lease I have discovered that there are only 68 years left on my lease in Silverdale. I now wish to extend my lease but my freeholder is can not be found. What should I do?

On the basis that you qualify, 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 enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to track down the lessor. In some cases an enquiry agent should be useful to try and locate and to produce a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Silverdale.

I am looking at a couple of flats in Silverdale which have about 50 years remaining on the leases. Will this present a problem?

There are plenty of short leases in Silverdale. The lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena

What are your top tips when it comes to finding a Silverdale conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Silverdale conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Silverdale conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• If they are not ALEP accredited then why not?

If all goes to plan we aim to complete the sale of our £225000 apartment in Silverdale next Thursday . The management company has quoted £420 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Silverdale?

Silverdale conveyancing on leasehold flats normally involves the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some situations it is in excess of £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is demanded should you wish to sell the property.

When it comes to leasehold conveyancing in Silverdale what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Silverdale. All leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements 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

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Virgin Money, and Barclays Direct all have very detailed conveyancing instructions 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 provide security, obliging the purchaser to withdraw.

I am the registered owner of a 2 bed flat in Silverdale, conveyancing formalities finalised in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Silverdale with an extended lease are worth £199,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2105

You have 80 years remaining on your lease we estimate the price of your lease extension to be between £10,500 and £12,000 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures 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. You should not move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Silverdale