I've found a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Lampton. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

The majority of houses in Lampton are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Lampton so you should seriously consider shopping around for a Lampton conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should appraise you on the various issues.

I am attracted to a two apartments in Lampton both have approximately forty five years unexpired on the leases. Do I need to be concerned?

A lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this field

I am a negotiator for a reputable estate agency in Lampton where we see a few flat sales put at risk as a result of short leases. I have been given conflicting advice from local Lampton conveyancing firms. Could you confirm whether the owner of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner 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. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as 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.

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

If you are instructing a solicitor for lease extension works (regardless if they are a Lampton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Lampton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• Can they put you in touch with client in Lampton who can give a testimonial?

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Lampton conveyancing firm to represent me?

in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the amount due.

An example of a Lease Extension case for a Lampton flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The remaining number of years on the lease was 60.45 years.

What makes a Lampton lease unmortgageable?

Leasehold conveyancing in Lampton is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.