I have recently realised that I have Sixty One years unexpired on my flat in Silverton. I now wish to get lease extension but my landlord is missing. What should I do?

If 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 mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. For most situations a specialist would be useful to conduct investigations 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 conveyancer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Silverton.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Silverton.Conveyancing has not commenced but I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a two flats in Silverton both have about 50 years left on the leases. Will this present a problem?

There are plenty of short leases in Silverton. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise 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 properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this area

What are your top tips when it comes to finding a Silverton conveyancing practice to carry out our lease extension conveyancing?

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

• How experienced is the firm with lease extension legislation?
• What volume of lease extensions has the firm completed in Silverton in the last twenty four months?

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

Leasehold conveyancing in Silverton is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• 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 may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Leeds Building Society, and Britannia all have express 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 provide security, forcing the purchaser to pull out.

Leasehold Conveyancing in Silverton - Sample of Questions you should ask Prior to Purchasing