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

Notwithstanding that your previous Bexleyheath conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission via your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

There are only 72 years remaining on my flat in Bexleyheath. I now want to get lease extension but my landlord is can not be found. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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. However, you will be required to prove that you have made all reasonable attempts to find the landlord. In some cases a specialist may be helpful to conduct investigations and to produce 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 property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Bexleyheath.

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Bexleyheath. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Bexleyheath ?

The majority of houses in Bexleyheath are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Bexleyheath in which case you should be looking for a Bexleyheath conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.

I am looking at a couple of apartments in Bexleyheath which have in the region of forty five years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Bexleyheath is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most buyers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat 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 premises 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 Bexleyheath conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.

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

if there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price payable.

An example of a Lease Extension matter before the tribunal for a Bexleyheath residence 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 the number of years remaining on the existing lease(s) was 76 years.

Are there common deficiencies that you come across in leases for Bexleyheath properties?

Leasehold conveyancing in Bexleyheath is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• 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

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Barclays Direct 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, forcing the purchaser to pull out.

Other Topics

Lease Extensions in Bexleyheath