There are only 62 years unexpired on my flat in West Smithfield. I am keen to extend my lease but my freeholder is can not be found. What are my options?

On the basis that 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 lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the landlord. On the whole a specialist may be useful to conduct investigations and prepare a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering West Smithfield.

I’m about to sell my basement apartment in West Smithfield.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in West Smithfield. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in West Smithfield are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in West Smithfield in which case you should be looking for a West Smithfield conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

I am looking at a two maisonettes in West Smithfield which have in the region of 50 years unexpired on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in West Smithfield is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and mortgage companies, 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 a residence 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 West Smithfield 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 the agreed 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.

I work for a reputable estate agent office in West Smithfield where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local West Smithfield conveyancing solicitors. Could you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has owned the lease 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in West Smithfield. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to decide the premium.

An example of a Lease Extension decision for a West Smithfield premises is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The remaining number of years on the lease was 66.8 years.

I purchased a split level flat in West Smithfield, conveyancing having been completed in 2004. How much will my lease extension cost? Corresponding flats in West Smithfield with a long lease are worth £266,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2089

With only 63 years remaining on your lease the likely cost is going to be between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.