My wife and I may need to sub-let our Brockley ground floor flat temporarily due to a new job. We instructed a Brockley conveyancing firm in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Brockley do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am looking at a two maisonettes in Brockley which have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this field

I work for a reputable estate agent office in Brockley where we have experienced a few leasehold sales put at risk due to short leases. I have been given conflicting advice from local Brockley conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?

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. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

An alternative approach is 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.

What are your top tips when it comes to appointing a Brockley conveyancing practice to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Brockley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non Brockley conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• What volume of lease extensions have they carried out in Brockley in the last 12 months?

I am the proprietor of a second floor flat in Brockley. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

Absolutely. We are happy to put you in touch with a Brockley conveyancing firm who can help.

An example of a Lease Extension case for a Brockley premises is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case affected 1 flat.

In relation to leasehold conveyancing in Brockley what are the most frequent lease problems?

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

• Repairing obligations to or maintain parts of the property
• 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 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 , The Royal Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

Other Topics

Lease Extensions in Brockley