I have recently realised that I have 62 years remaining on my flat in Caversham. I now want to get lease extension but my landlord is absent. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. On the whole a specialist may be useful to try and locate and prepare a report to be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Caversham.

I’m about to sell my basement apartment in Caversham.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

It best that you clear 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. This will smooth the conveyancing process.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Caversham. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Caversham are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Caversham so you should seriously consider shopping around for a Caversham conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.

Last month I purchased a leasehold house in Caversham. Do I have any liability for service charges for periods before my ownership?

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. A critical element 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).

What advice can you give us when it comes to finding a Caversham conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Caversham conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Caversham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How experienced is the firm with lease extension legislation?

I purchased a 1st floor flat in Caversham, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Caversham with a long lease are worth £179,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease comes to an end on 21st October 2099

With 74 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 plus professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.

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Lease Extensions in Caversham