My partner and I may need to rent out our Eel Pie Island garden flat for a while due to a new job. We used a Eel Pie Island conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Eel Pie Island do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

There are only Seventy years remaining on my flat in Eel Pie Island. I need to get lease extension but my freeholder is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you have made all reasonable attempts to locate the freeholder. For most situations an enquiry agent may be helpful to try and locate and prepare a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Eel Pie Island.

I am a negotiator for a reputable estate agent office in Eel Pie Island where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Eel Pie Island conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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 Eel Pie Island conveyancing firm to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Eel Pie Island conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Eel Pie Island conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

• If they are not ALEP accredited then what is the reason?
• What are the costs for lease extension conveyancing?

Can you provide any advice for leasehold conveyancing in Eel Pie Island with the intention of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Eel Pie Island can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• The majority freeholders or Management Companies in Eel Pie Island levy fees for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Eel Pie Island.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Eel Pie Island state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such alterations. If you dont have the approvals in place you should not contact the landlord without contacting your conveyancer before hand.
• Some Eel Pie Island leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 solicitors.
• You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

I am the registered owner of a first flat in Eel Pie Island. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?

Most definitely. We are happy to put you in touch with a Eel Pie Island conveyancing firm who can help.

An example of a Lease Extension case for a Eel Pie Island premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 60.45 years.

I invested in buying a studio flat in Eel Pie Island, conveyancing was carried out 2012. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Eel Pie Island with a long lease are worth £238,000. The average or mid-range amount of ground rent is £60 per annum. The lease expires on 21st October 2076

With 50 years unexpired we estimate the premium for your lease extension to span between £34,200 and £39,600 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.