I am in need of some leasehold conveyancing in Stilton. Before diving in I would like to find out the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Stilton - then the leasehold title will always include the short particulars 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.

There are only 62 years remaining on my lease in Stilton. I am keen to get lease extension but my landlord is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the freeholder. On the whole a specialist may be helpful to carry out a search and prepare a report which can 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 absence and the vesting order request to the County Court covering Stilton.

My wife and I purchased a leasehold house in Stilton. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Stilton who previously acted has long since retired.Do I pay?

First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Stilton conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am looking at a two apartments in Stilton which have in the region of fifty years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Stilton is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most buyers and lenders, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Stilton conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am employed by a long established estate agent office in Stilton where we have witnessed a number of flat sales jeopardised due to short leases. I have been given contradictory information from local Stilton conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension process 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible 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 buyer.

I invested in buying a 1st floor flat in Stilton, conveyancing having been completed in 2012. 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? Corresponding properties in Stilton with over 90 years remaining are worth £207,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2097

With 71 years unexpired the likely cost is going to span between £9,500 and £11,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.