I only have 68 years left on my lease in Yarm. I am keen to get lease extension but my freeholder is missing. What are my options?

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 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. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the landlord. In some cases an enquiry agent would be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Yarm.

Due to sign contracts shortly on a studio apartment in Yarm. Conveyancing lawyers 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 Yarm should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• You should have a good understanding of the insurance provisions
• 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
• Responsibility for repairing the window frames
• What you can do if a neighbour breach a clause of their lease?

I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Yarm. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Yarm ?

The majority of houses in Yarm are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Yarm in which case you should be shopping around for a Yarm conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

I've recently bought a leasehold house in Yarm. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

Do you have any advice for leasehold conveyancing in Yarm from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Yarm can be reduced if you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
• The majority freeholders or managing agents in Yarm charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Yarm.
• A minority of Yarm 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. The bank reference will need to confirm that the buyers are 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Arranging a new share certificate is often a time consuming process and slows down many a Yarm home move. Where a reissued share certificate is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s lawyer will not be happy to advise 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 identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

I purchased a studio flat in Yarm, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Yarm with a long lease are worth £266,000. The ground rent is £45 yearly. The lease runs out on 21st October 2078

You have 52 years remaining on your lease the likely cost is going to span between £35,200 and £40,600 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed investigations. 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. Neither should you take any other action placing reliance on this information before getting professional advice.