I am tempted by the attractive purchase price for a two apartments in East Dulwich both have approximately forty five years remaining on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

Can you offer any advice when it comes to finding a East Dulwich conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a East Dulwich conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non East Dulwich conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

• If the firm is not ALEP accredited then what is the reason?
• What are the legal fees for lease extension work?

Do you have any advice for leasehold conveyancing in East Dulwich with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in East Dulwich can be avoided if you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? East Dulwich leases often stipulate that internal structural changes or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. If you fail to have the consents in place you should not communicate with the landlord without checking with your solicitor in advance.
• Some East Dulwich leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Organising a replacement share certificate is often a lengthy formality and delays many a East Dulwich conveyancing transaction. If a reissued share is necessary, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Completion in due on the sale of our £ 275000 flat in East Dulwich next week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in East Dulwich?

East Dulwich conveyancing on leasehold maisonettes normally involves the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be content to do so. They are at liberty levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is technically not due. In reality one has little choice but to pay whatever is demanded if you want to exchange contracts with the buyer.

I own a basement flat in East Dulwich. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

You certainly can. We are happy to put you in touch with a East Dulwich conveyancing firm who can help.

An example of a Lease Extension case for a East Dulwich premises is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case affected 1 flat. The the unexpired term as at the valuation date was 61.81 years.

What makes a East Dulwich lease defective?

Leasehold conveyancing in East Dulwich is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• 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

You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to withdraw.

I am the registered owner of a garden flat in East Dulwich, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding flats in East Dulwich with a long lease are worth £216,000. The ground rent is £50 levied per year. The lease expires on 21st October 2103

With just 77 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.

The suggested premium range 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. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.