Having had my offer accepted I require leasehold conveyancing in Stony Stratford. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Stony Stratford - 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 want to sublet my leasehold apartment in Stony Stratford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

The lease governs the relationship between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Stony Stratford do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Back In 2005, I bought a leasehold flat in Stony Stratford. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Stony Stratford who acted for me is not around.Do I pay?

First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to instruct a Stony Stratford conveyancing solicitor to do this as it can be done on-line for £3. Rest assured 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 couple of apartments in Stony Stratford which have about fifty years remaining on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why 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 companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to appointing a Stony Stratford conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Stony Stratford conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Stony Stratford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

• If they are not ALEP accredited then what is the reason?

I own a split level flat in Stony Stratford, conveyancing was carried out 2008. Can you work out an approximate cost of a lease extension? Similar flats in Stony Stratford with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2090

With only 65 years left to run the likely cost is going to be between £12,400 and £14,200 plus 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 are not able to supply the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

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Lease Extensions in Stony Stratford