I am on look out for some leasehold conveyancing in Barnes Cray. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Barnes Cray - then the leasehold title will always include the short particulars 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.

I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Barnes Cray. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

Most houses in Barnes Cray are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Barnes Cray so you should seriously consider shopping around for a Barnes Cray conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should report to you on the legal implications.

I am attracted to a couple of maisonettes in Barnes Cray which have in the region of forty five years unexpired on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Barnes Cray is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and banks, leases with under eighty 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 property 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 Barnes Cray 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 any new 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.

What advice can you give us when it comes to appointing a Barnes Cray conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Barnes Cray conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Barnes Cray conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?

Despite our best endeavours, we have been unsuccessful in seeking a lease extension in Barnes Cray. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We are happy to put you in touch with a Barnes Cray conveyancing firm who can help.

An example of a Lease Extension case for a Barnes Cray premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired lease term was 76 years.

What makes a Barnes Cray lease problematic?

There is nothing unique about leasehold conveyancing in Barnes Cray. Most leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• 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

You will encounter 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, Virgin Money, and Godiva Mortgages Ltd 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 is defective they may refuse to provide security, obliging the purchaser to pull out.