I am in need of some leasehold conveyancing in Stony Stratford. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% 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.

Harry (my fiance) and I may need to rent out our Stony Stratford 1st floor flat temporarily due to taking a sabbatical. We instructed a Stony Stratford conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

The lease dictates relations between the landlord and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Stony Stratford do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I own a leasehold flat in Stony Stratford. Conveyancing and Bank of Scotland mortgage organised. A letter has just been received 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 1991. The conveyancing solicitor in Stony Stratford who acted for me is not around.Any advice?

First make enquiries of HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Stony Stratford conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a reputable estate agency in Stony Stratford where we have witnessed a number of flat sales derailed as a result of short leases. I have been given contradictory information from local Stony Stratford conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.

Do you have any advice for leasehold conveyancing in Stony Stratford with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Stony Stratford can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
• The majority freeholders or Management Companies in Stony Stratford levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Stony Stratford.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Stony Stratford leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you fail to have the approvals to hand do not contact the landlord without contacting your solicitor first.
• If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
• If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share certificate. Arranging a re-issued share certificate is often a time consuming formality and delays many a Stony Stratford home move. Where a new share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.

I invested in buying a split level flat in Stony Stratford, conveyancing was carried out in 1995. 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 Stony Stratford with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2083

With just 57 years remaining on your lease we estimate the premium for your lease extension to range between £22,800 and £26,400 plus legals.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.