Having checked my lease I have discovered that there are only Fifty years left on my lease in Prescot. I need to get lease extension but my landlord is absent. What options are available to me?

If 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 mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the freeholder. For most situations a specialist may be helpful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the application to the County Court overseeing Prescot.

I’m about to sell my ground floor apartment in Prescot.Conveyancing has not commenced but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

It best that you discharge the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a couple of apartments in Prescot which have about forty five years remaining on the lease term. Will this present a problem?

There are plenty of short leases in Prescot. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

What are your top tips when it comes to finding a Prescot conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Prescot conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Prescot conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?

Can you provide any advice for leasehold conveyancing in Prescot from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Prescot can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
• The majority landlords or managing agents in Prescot levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Prescot.

I acquired a split level flat in Prescot, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Prescot with over 90 years remaining are worth £218,000. The average or mid-range amount of ground rent is £55 yearly. The lease ceases on 21st October 2085

You have 60 years unexpired we estimate the premium for your lease extension to be between £20,900 and £24,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns 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 Prescot