Having checked my lease I have discovered that there are only 62 years remaining on my lease in Manor Park. I now want to get lease extension but my freeholder is can not be found. 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 an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the lessor. On the whole a specialist would be useful to conduct investigations and to produce a report to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Manor Park.

I have just appointed agents to market my ground floor apartment in Manor Park.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you 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 management companies will not acknowledge the buyer until 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've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Manor Park. Conveyancing advisers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Manor Park ?

The majority of houses in Manor Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Manor Park so you should seriously consider shopping around for a Manor Park conveyancing practitioner and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will appraise you on the various issues.

What are your top tips when it comes to appointing a Manor Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Manor Park conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Manor Park conveyancing practices prior to 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 practice with lease extension legislation?
• If the firm is not ALEP accredited then why not?

I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Manor Park conveyancing firm to act on my behalf?

Most certainly. We can put you in touch with a Manor Park conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Manor Park residence is 240 Strone Road in January 2014. the tribunal held that the price to be paid for the freehold interest was£23,538 of which£13,017 is attributable to the ground floor flat and £10,521 to the
first floor flat. This case affected 2 flats. The remaining number of years on the lease was 65.5 years.

What are the frequently found problems that you witness in leases for Manor Park properties?

Leasehold conveyancing in Manor Park is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.

I purchased a 1 bedroom flat in Manor Park, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Manor Park with an extended lease are worth £186,000. The ground rent is £55 per annum. The lease expires on 21st October 2087

You have 61 years left to run we estimate the price of your lease extension to be between £19,000 and £22,000 plus 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 cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.