Having had my offer accepted I require leasehold conveyancing in Addington. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Addington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Planning to exchange soon on a leasehold property in Addington. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Addington should include some of the following:

• The total extent of the demise. This will be the property itself but might incorporate a loft or basement if appropriate.
• Whether the lease restricts you from letting out the property, or having a home office for business
• You should be told what constitutes a Nuisance in the lease
• 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.
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Addington. Conveyancing advisers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Addington ?

The majority of houses in Addington are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Addington in which case you should be looking for a Addington conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

I am looking at a two maisonettes in Addington which have in the region of fifty years left on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Addington is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most purchasers and lenders, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Addington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any top tips for leasehold conveyancing in Addington from the point of view of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Addington can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers conveyancers.
• The majority landlords or managing agents in Addington charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Addington.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Addington state that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such works. If you fail to have the paperwork in place you should not contact the landlord without checking with your solicitor first.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unsettled.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I have given up negotiating a lease extension in Addington. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most certainly. We are happy to put you in touch with a Addington conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Addington premises is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The the number of years remaining on the existing lease(s) was 76.75 and 88.83.

I am the registered owner of a studio flat in Addington, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Addington with a long lease are worth £256,000. The ground rent is £50 per annum. The lease terminates on 21st October 2100

With only 74 years unexpired we estimate the price of your lease extension to span between £12,400 and £14,200 as well as professional fees.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. 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 getting professional advice.