I am on look out for some leasehold conveyancing in Deptford. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Deptford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Deptford. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

The majority of houses in Deptford are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Deptford in which case you should be looking for a Deptford conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should appraise you on the various issues.

I am looking at a two maisonettes in Deptford which have in the region of 50 years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold apartment in Deptford 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 premises. For most buyers and mortgage companies, leases with under 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 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 Deptford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

Can you provide any top tips for leasehold conveyancing in Deptford from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Deptford can be reduced where you instruct lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ lawyers.
• If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Deptford state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you dont have the approvals in place you should not contact the landlord without checking with your lawyer in the first instance.

I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Deptford conveyancing firm to act on my behalf?

Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the amount due.

An example of a Freehold Enfranchisement decision for a Deptford flat is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case affected 3 flats. The the number of years remaining on the existing lease(s) was 80.01 years.

What are the common problems that you encounter in leases for Deptford properties?

Leasehold conveyancing in Deptford is not unique. All leases are unique and legal mistakes in the legal wording can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Nottingham Building Society 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 is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.