Frank (my husband) and I may need to let out our De Beauvoir Town basement flat for a while due to taking a sabbatical. We instructed a De Beauvoir Town conveyancing firm in 2002 but they have since shut and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous De Beauvoir Town conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. The consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

Having checked my lease I have discovered that there are only Seventy years left on my lease in De Beauvoir Town. I now wish to get lease extension but my landlord is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. For most situations an enquiry agent would be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering De Beauvoir Town.

I have just started marketing my basement apartment in De Beauvoir Town.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – what should I do?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a two flats in De Beauvoir Town which have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in De Beauvoir Town is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. 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 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 De Beauvoir Town 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 the agreed 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 work for a reputable estate agent office in De Beauvoir Town where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local De Beauvoir Town conveyancing firms. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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 buyer.

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a De Beauvoir Town conveyancing firm to act on my behalf?

You certainly can. We are happy to put you in touch with a De Beauvoir Town conveyancing firm who can help.

An example of a Lease Extension decision for a De Beauvoir Town property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case was in relation to 1 flat. The remaining number of years on the lease was 80.5 years.

De Beauvoir Town Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

Are any of leasehold owners in arrears of their service charge liability?