I am in need of some leasehold conveyancing in Kenley. Before I get started I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Kenley - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have recently realised that I have Fifty years remaining on my flat in Kenley. I now want to extend my lease but my freeholder is missing. What should I do?

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 an order 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 demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations an enquiry agent should be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Kenley.

I am tempted by the attractive purchase price for a two flats in Kenley which have approximately 50 years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Kenley is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. For most buyers and banks, 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 Kenley 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.

Last month I purchased a leasehold flat in Kenley. Do I have any liability for service charges relating to a period prior to my ownership?

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. It is an essential part 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).

Do you have any advice for leasehold conveyancing in Kenley with the intention of expediting the sale process?

• Much of the frustration in leasehold conveyancing in Kenley can be reduced if you instruct lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
• Many freeholders or Management Companies in Kenley charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Kenley.
• A minority of Kenley leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 lawyers.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
• If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a replacement share certificate can be a lengthy formality and frustrates many a Kenley conveyancing deal. If a reissued share is needed, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Kenley conveyancing firm to act on my behalf?

Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to determine the premium.

An example of a Freehold Enfranchisement matter before the tribunal for a Kenley property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the fi
gure of £37,912. This case affected 6 flats. The unexpired lease term was 78.32 years.

I inherited a 2 bed flat in Kenley, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Kenley with an extended lease are worth £269,000. The ground rent is £55 yearly. The lease ceases on 21st October 2100

With just 74 years unexpired the likely cost is going to range between £14,300 and £16,400 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.