Having checked my lease I have discovered that there are only Sixty One years remaining on my flat in Bermondsey. I am keen to extend my lease but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, 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 enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent would be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Bermondsey.

Looking forward to exchange soon on a garden flat in Bermondsey. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?

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

• The total extent of the property. This will be the apartment itself but may include a roof space or cellar if applicable.
• You must be told what counts as a Nuisance in the lease
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• 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

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Bermondsey. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Bermondsey ?

The majority of houses in Bermondsey are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Bermondsey so you should seriously consider looking for a Bermondsey conveyancing practitioner and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I work for a reputable estate agent office in Bermondsey where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Bermondsey conveyancing firms. Please can you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means 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 prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

We have reached the end of our tether in seeking a lease extension in Bermondsey. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

An example of a Freehold Enfranchisement matter before the tribunal for a Bermondsey residence 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 related to 41 flats. The the unexpired term as at the valuation date was 107 years.

Are there frequently found defects that you encounter in leases for Bermondsey properties?

Leasehold conveyancing in Bermondsey is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• 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

You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Barnsley Building Society, and Platform Home Loans 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 does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

I bought a studio flat in Bermondsey, conveyancing formalities finalised 2011. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Bermondsey with a long lease are worth £252,000. The ground rent is £65 per annum. The lease finishes on 21st October 2083

With only 57 years remaining on your lease we estimate the price of your lease extension to be between £30,400 and £35,200 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 the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.