I only have 68 years unexpired on my lease in Stony Stratford. I now want to get lease extension but my freeholder is missing. What options are available to me?

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 for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have made all reasonable attempts to locate the landlord. On the whole a specialist may be useful to carry out a search and prepare an expert document which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Stony Stratford.

I today plan to offer on a house that seems to be perfect, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Stony Stratford. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Stony Stratford are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Stony Stratford so you should seriously consider shopping around for a Stony Stratford conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am employed by a reputable estate agency in Stony Stratford where we have witnessed a number of leasehold sales derailed as a result of short leases. I have been given contradictory information from local Stony Stratford conveyancing firms. Please can you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Can you offer any advice when it comes to choosing a Stony Stratford conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Stony Stratford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Stony Stratford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?
• How many lease extensions have they completed in Stony Stratford in the last twenty four months?

All being well we will complete the disposal of our £ 450000 maisonette in Stony Stratford next Friday . The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Stony Stratford?

For most leasehold sales in Stony Stratford conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-exchange questions
• Where consent is required before sale in Stony Stratford
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Stony Stratford leasehold property is £350. For Stony Stratford conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I invested in buying a ground floor flat in Stony Stratford, conveyancing was carried out 10 years ago. 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 flats in Stony Stratford with a long lease are worth £245,000. The ground rent is £60 charged once a year. The lease comes to an end on 21st October 2104

With just 78 years remaining on your lease we estimate the price of your lease extension to be between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you 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 may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.