I would like to rent out my leasehold apartment in Forestdale. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Your lease dictates relations between the landlord and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Forestdale do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I only have 62 years left on my flat in Forestdale. I now want to get lease extension but my freeholder is absent. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations an enquiry agent would be helpful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder 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 covering Forestdale.

I am tempted by the attractive purchase price for a two apartments in Forestdale both have approximately 50 years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold flat in Forestdale is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, 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 a residence 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 Forestdale 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 any new 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.

Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £ 275000 maisonette in Forestdale in seven days. The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Forestdale?

Forestdale conveyancing on leasehold apartments normally requires the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to address such questions the majority will be content to do so. They are entitled invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. In reality one has no option but to pay whatever is demanded if you want to complete the sale of your home.

I am the proprietor of a a ground floor purpose built flat in Forestdale. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?

Most definitely. We can put you in touch with a Forestdale conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Forestdale residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the fi
gure of £37,912. This case was in relation to 6 flats. The the unexpired term as at the valuation date was 78.32 years.

When it comes to leasehold conveyancing in Forestdale what are the most common lease defects?

Leasehold conveyancing in Forestdale is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• 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. Accord Mortgages Ltd, The Mortgage Works, and Bank of Ireland all have very detailed requirements 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, obliging the purchaser to withdraw.

I own a studio flat in Forestdale, conveyancing having been completed 2011. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Forestdale with an extended lease are worth £240,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease ends on 21st October 2082

With only 56 years unexpired we estimate the price of your lease extension to range between £30,400 and £35,200 as well as costs.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.