I own a leasehold house in East Sheen. Conveyancing and Lloyds TSB Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in East Sheen who previously acted has long since retired.What should I do?

First make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a East Sheen conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in East Sheen which have approximately fifty years unexpired on the leases. Do I need to be concerned?

A lease is a right to use the premises for a period of time. As the lease shortens the value of the lease deteriorate and results in it becoming more expensive 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 properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

I am employed by a long established estate agent office in East Sheen where we see a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local East Sheen conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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.

Can you offer any advice when it comes to appointing a East Sheen conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a East Sheen conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non East Sheen conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

• If they are not ALEP accredited then why not?
• Can they put you in touch with client in East Sheen who can give a testimonial?

I inherited a basement flat in East Sheen. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

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

An example of a Freehold Enfranchisement matter before the tribunal for a East Sheen residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The unexpired lease term was 66.25 years.

In relation to leasehold conveyancing in East Sheen what are the most common lease problems?

Leasehold conveyancing in East Sheen is not unique. Most leases are unique and drafting errors can sometimes mean that 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 building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

East Sheen Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing

What is the name of the managing agents? How much is the ground rent and service charge?