I have recently realised that I have 62 years remaining on my flat in Clapham. I now want to extend my lease but my landlord is missing. 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 lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. In some cases an enquiry agent may be helpful to conduct investigations and to produce an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Clapham.

I am attracted to a two maisonettes in Clapham both have approximately fifty years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Clapham is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. 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 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 Clapham 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 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 are your top tips when it comes to finding a Clapham conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Clapham conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Clapham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• What volume of lease extensions has the firm carried out in Clapham in the last year?

Do you have any top tips for leasehold conveyancing in Clapham from the perspective of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in Clapham can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Clapham charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Clapham.

We expect to complete our sale of a £375000 apartment in Clapham in 5 days. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Clapham?

Clapham conveyancing on leasehold apartments often requires the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

I am the registered owner of a ground floor flat in Clapham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?

in cases where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the sum to be paid.

An example of a Freehold Enfranchisement decision for a Clapham residence is 23 Chelsham Road in May 2013. the Tribunal fou
nd that the sum of £13,870.00 was payable for the freehold following a vestig order having been granted by Swansea County Court dated 1st March 2013 This case was in relation to 3 flats. The unexpired lease term was 99 years.