I am on look out for some leasehold conveyancing in Dulwich. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Dulwich - 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 am attracted to a couple of apartments in Dulwich both have about fifty years unexpired on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Dulwich is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and banks, leases with less than 75 years become less and less attractive. 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 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 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 Dulwich 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.

Last month I purchased a leasehold house in Dulwich. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to appointing a Dulwich conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Dulwich conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Dulwich conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• How experienced is the firm with lease extension legislation?
• Can they put you in touch with client in Dulwich who can give a testimonial?

Can you provide any advice for leasehold conveyancing in Dulwich from the point of view of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Dulwich can be reduced if you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers.
• The majority landlords or Management Companies in Dulwich charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Dulwich.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Dulwich leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such alterations. If you dont have the approvals in place you should not communicate with the landlord without checking with your lawyer before hand.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Organising a replacement share certificate can be a lengthy formality and frustrates many a Dulwich conveyancing transaction. Where a reissued share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Dulwich conveyancing firm to help?

Absolutely. We can put you in touch with a Dulwich conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Dulwich premises is 60 Taymount Grange Taymount Rise in June 2012. The Tribunal determined the premium at £13,346 for a lease extension of a further 90 years This case affected 1 flat. The the number of years remaining on the existing lease(s) was 64 years.

I am the registered owner of a 1 bedroom flat in Dulwich, conveyancing having been completed in 2006. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Dulwich with an extended lease are worth £254,000. The average or mid-range amount of ground rent is £65 per annum. The lease comes to an end on 21st October 2105

With 79 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 plus professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.