I am intending to rent out my leasehold flat in Gipsy Hill. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease governs relations between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, 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. Most leases in Gipsy Hill do not prevent strict prohibition on subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

There are only 62 years unexpired on my flat in Gipsy Hill. I need to get lease extension but my landlord is missing. What should I do?

On the basis that 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 granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. For most situations an enquiry agent may be helpful to carry out a search and prepare an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court overseeing Gipsy Hill.

I've found a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Gipsy Hill. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Gipsy Hill ?

Most houses in Gipsy Hill are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Gipsy Hill in which case you should be shopping around for a Gipsy Hill conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.

I am looking at a couple of maisonettes in Gipsy Hill which have about fifty years unexpired on the lease term. Will this present a problem?

There are plenty of short leases in Gipsy Hill. The lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

I am a negotiator for a long established estate agency in Gipsy Hill where we see a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Gipsy Hill conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence 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 kick-start 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Gipsy Hill. Can we issue an application to the Residential Property Tribunal Service?

Most certainly. We are happy to put you in touch with a Gipsy Hill conveyancing firm who can help.

An example of a Lease Extension decision for a Gipsy Hill property is Flat 1 4 Border Crescent in March 2012. the Tribunal decided that the sum payable by the Applicants to the Respondent in respect of the new lease for the subject property should be £11,616.00 (ElevenThousand and Six Hundred and Sixteen Pounds) This case was in relation to 1 flat. The unexpired term was 72.04 years.

I invested in buying a basement flat in Gipsy Hill, conveyancing formalities finalised in 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Gipsy Hill with a long lease are worth £167,000. The ground rent is £60 charged once a year. The lease ends on 21st October 2082

With just 56 years left to run the likely cost is going to be between £26,600 and £30,800 as well as professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.