I want to let out my leasehold apartment in East Sheen. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your previous East Sheen conveyancing solicitor is no longer available you can check your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of prior consent. Such consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.

Planning to exchange soon on a basement flat in East Sheen. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in East Sheen should include some of the following:

• The total extent of the demise. This will be the property itself but might include a loft or basement if applicable.

I am attracted to a two apartments in East Sheen both have about forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in East Sheen is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and lenders, leases with less than eighty 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 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 East Sheen 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 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've recently bought a leasehold property in East Sheen. 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 owner 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).

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a East Sheen conveyancing firm to assist?

in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price payable.

An example of a Freehold Enfranchisement decision for a East Sheen flat 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 was in relation to 3 flats. The the number of years remaining on the existing lease(s) was 66.25 years.

What makes a East Sheen lease problematic?

There is nothing unique about leasehold conveyancing in East Sheen. Most leases are individual and drafting errors 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 property
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Barclays Direct 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 problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

Other Topics

Lease Extensions in East Sheen