Having checked my lease I have discovered that there are only 68 years left on my lease in Towyn. I need to get lease extension but my freeholder is can not be found. What should I do?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent may be useful to carry out a search and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Towyn.

Expecting to exchange soon on a basement flat in Towyn. Conveyancing lawyers inform me that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

• The physical extent of the property. This will be the apartment itself but may incorporate a roof space or basement if applicable.
• Will you be prohibited or prevented from having pets in the property?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I am attracted to a couple of apartments in Towyn both have in the region of fifty years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

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

If you are instructing a conveyancer for your lease extension (regardless if they are a Towyn conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Towyn 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 helpful:

• If the firm is not ALEP accredited then why not?
• Can they put you in touch with client in Towyn who can give a testimonial?

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

• Much of the delay in leasehold conveyancing in Towyn can be bypassed where you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? 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 consenting to such changes. Where you dont have the consents in place you should not contact the landlord without contacting your lawyer first.
• A minority of Towyn leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge 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 settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unsettled.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I bought a studio flat in Towyn, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Towyn with an extended lease are worth £247,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2091

With just 65 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.