Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Farringdon. I now wish to extend my lease but my landlord is absent. What should I do?

If you qualify, 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 demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. On the whole an enquiry agent would be helpful to conduct investigations and prepare a report which can be used as evidence that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Farringdon.

I am hoping to exchange soon on a leasehold property in Farringdon. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

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

• The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• 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
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• Responsibility for repairing the window frames
• What options are open to you if a neighbour is in violation of a provision in their lease?

Last month I purchased a leasehold house in Farringdon. Am I liable to pay 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

I am a negotiator for a reputable estate agent office in Farringdon where we have witnessed a number of flat sales derailed due to short leases. I have been given contradictory information from local Farringdon conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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 buyer.

My wife and I have hit a brick wall in seeking a lease extension in Farringdon. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the sum to be paid.

An example of a Lease Extension decision for a Farringdon 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 was in relation to 1 flat. The unexpired lease term was 66.8 years.

Are there frequently found defects that you witness in leases for Farringdon properties?

Leasehold conveyancing in Farringdon is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.

Farringdon Leasehold Conveyancing - Sample of Questions you should consider Prior to buying

The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees enjoy control and even though a managing agent is often retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.