I want to let out my leasehold flat in Fulham. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

The lease dictates the relationship between the landlord and you the flat owner; in particular, it will set out 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 permitted. The majority of leases in Fulham do not contain strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

There are only Sixty One years unexpired on my flat in Fulham. I am keen to extend my lease but my landlord is missing. 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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have used your best endeavours to find the lessor. In some cases an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the application to the County Court covering Fulham.

I am tempted by the attractive purchase price for a two flats in Fulham which have about forty five years left on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Fulham is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and banks, leases with less than 75 years become less and less marketable. 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 Fulham 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 am employed by a reputable estate agency in Fulham where we have witnessed a number of flat sales put at risk due to short leases. I have received conflicting advice from local Fulham conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can initiate the lease extension formalities for the buyer?

Provided that the seller has owned the lease 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. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 purchaser.

What are your top tips when it comes to appointing a Fulham conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Fulham conveyancing practice) it is imperative that they 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 Fulham 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:

• How experienced is the firm with lease extension legislation?
• What are the charges for lease extension work?

I have given up trying to purchase the freehold in Fulham. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.

An example of a Freehold Enfranchisement case for a Fulham premises is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case affected 2 flats. The unexpired term was 93 years and 162 years.

Leasehold Conveyancing in Fulham - Examples of Queries before Purchasing

Be sure to discover if there is anything that is prohibited in the lease. For instance it is reasonably common in Fulham leases that pets are not allowed in certain buildings in Fulham. If you like the apartmentin Fulham yet your cat is not allowed to move with you then you will be faced hard compromise. Its a good idea to find out as much as possible concerning the managing agents as they will either make your life much easier or a lot more difficult. As the owner of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the common parts. Don't be afraid to ask prospective neighbours what they think of them. Finally, be sure you discover the dates that you are obliged pay the maintenance charge to the managing agents and specifically what it includes.