I have recently realised that I have Sixty One years left on my flat in Wisbech. I now want to extend my lease but my freeholder is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. On the whole a specialist would be useful to try and locate and to produce an expert document to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Wisbech.

I am hoping to exchange soon on a studio apartment in Wisbech. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

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

• Defining your legal entitlements in respect of common areas in the block.For instance, does the lease include a right of way over an accessway or staircase?

You should have a good understanding of the insurance provisions

Changes to the flat (alterations and additions)

I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required

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.

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

What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Wisbech please ask your solicitor in advance of your conveyancing in Wisbech

I am looking at a couple of flats in Wisbech which have approximately 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Wisbech is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and banks, leases with less than eighty years become less and less attractive. On a more upbeat 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 premises 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 Wisbech 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.

Last month I purchased a leasehold property in Wisbech. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

All being well we will complete our sale of a £425000 garden flat in Wisbech in nine days. The landlords agents has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Wisbech?

For most leasehold sales in Wisbech conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Answering pre-contract questions
• Where consent is required before sale in Wisbech
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Wisbech leasehold premises is £350. For Wisbech conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I am the registered owner of a ground floor flat in Wisbech, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent flats in Wisbech with an extended lease are worth £261,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2076

With only 52 years left to run the likely cost is going to span between £33,300 and £38,400 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to 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.

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Lease Extensions in Wisbech