Helen (my wife) and I may need to let out our Knightsbridge basement flat for a while due to taking a sabbatical. We used a Knightsbridge conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

A small minority of properties in Knightsbridge do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I only have Fifty years remaining on my lease in Knightsbridge. I now wish to extend my lease but my landlord is absent. What should I do?

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 mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to find the lessor. In some cases a specialist may be helpful to conduct investigations and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court overseeing Knightsbridge.

Planning to complete next month on a ground floor flat in Knightsbridge. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Knightsbridge should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Defining your legal entitlements in relation to common areas in the building.For example, does the lease contain a right of way over an accessway or hallways?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• You should have a good understanding of the insurance provisions
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• What the implications are if you breach a clause of your lease?

I am tempted by the attractive purchase price for a two flats in Knightsbridge both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I work for a reputable estate agency in Knightsbridge where we have witnessed a few flat sales jeopardised due to short leases. I have received conflicting advice from local Knightsbridge conveyancing solicitors. Can you clarify whether the vendor of a flat can commence the lease extension process 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 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 before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 buyer.

I have had difficulty in seeking a lease extension in Knightsbridge. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We are happy to put you in touch with a Knightsbridge conveyancing firm who can help.

An example of a Lease Extension case for a Knightsbridge property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case related to 1 flat. The the unexpired term as at the valuation date was 13.33 years.

I inherited a garden flat in Knightsbridge, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Knightsbridge with an extended lease are worth £258,000. The average or mid-range amount of ground rent is £55 levied per year. The lease runs out on 21st October 2088

You have 62 years left to run the likely cost is going to be between £20,900 and £24,200 as well as legals.

The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.