I am in need of some leasehold conveyancing in Thornhill. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Thornhill - 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.

My wife and I purchased a leasehold house in Thornhill. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Thornhill who previously acted has now retired.What should I do?

First make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to instruct a Thornhill conveyancing solicitor 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 landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in Thornhill both have about forty five years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Thornhill is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of buyers and lenders, leases with less than 75 years become less and less attractive. On a more positive 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 property 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 Thornhill 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.

What are your top tips when it comes to finding a Thornhill conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Thornhill conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Thornhill conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• If they are not ALEP accredited then what is the reason?
• What are the costs for lease extension conveyancing?

Can you provide any top tips for leasehold conveyancing in Thornhill from the point of view of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Thornhill can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Thornhill leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord consenting to such works. If you fail to have the paperwork in place you should not communicate with the landlord without checking with your solicitor in advance.
• If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Arranging a replacement share certificate can be a lengthy formality and delays many a Thornhill home move. Where a duplicate share is necessary, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I bought a 2 bed flat in Thornhill, conveyancing formalities finalised 2010. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Thornhill with an extended lease are worth £245,000. The ground rent is £50 charged once a year. The lease ends on 21st October 2088

You have 62 years unexpired we estimate the premium for your lease extension to span between £19,000 and £22,000 plus professional fees.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.