I would like to let out my leasehold flat in Bankside. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Bankside do not prevent subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I have recently realised that I have Sixty One years remaining on my lease in Bankside. I now wish to get lease extension but my landlord is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to find the landlord. 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 advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Bankside.

Expecting to exchange soon on a ground floor flat in Bankside. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?

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

• Defining your legal entitlements in relation to common areas in the building.By way of example, does the lease include a right of way over an accessway or staircase?

I am employed by a busy estate agency in Bankside where we see a few leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Bankside conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

Provided that 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 sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

I have had difficulty in trying to purchase the freehold in Bankside. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price.

An example of a Freehold Enfranchisement decision for a Bankside flat is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The remaining number of years on the lease was 107 years.

What makes a Bankside lease defective?

Leasehold conveyancing in Bankside is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions 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.