I am on look out for some leasehold conveyancing in Towyn. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Towyn - 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.

I have recently realised that I have 72 years unexpired on my flat in Towyn. I need to get lease extension but my landlord is can not be found. What are my options?

If you qualify, 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 enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the landlord. On the whole a specialist would be helpful to try and locate and prepare an expert document which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the application to the County Court overseeing Towyn.

Planning to exchange soon on a studio apartment in Towyn. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Towyn should include some of the following:

• How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Are pets allowed in the flat?
• You should have a good understanding of the insurance provisions
• Changes to the flat (alterations and additions)
• What you can do if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I am employed by a reputable estate agent office in Towyn where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Towyn conveyancing firms. Can you confirm whether the owner of a flat can commence 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 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 needs to be completed prior to, or simultaneously with 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.

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

• A significant proportion of the delay in leasehold conveyancing in Towyn can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Towyn state that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Where you fail to have the approvals to hand you should not communicate with the landlord without checking with your conveyancer first.
• Some Towyn leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.
• If you have had conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You may need to swallow your pride and 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I own a 2 bed flat in Towyn, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Towyn with an extended lease are worth £251,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ends on 21st October 2092

With just 66 years unexpired we estimate the premium for your lease extension to span between £12,400 and £14,200 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.