I am in need of some leasehold conveyancing in Mayfair. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in Mayfair - 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've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Mayfair. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Mayfair ?

Most houses in Mayfair are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Mayfair so you should seriously consider shopping around for a Mayfair conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.

Back In 2009, I bought a leasehold house in Mayfair. Conveyancing and HSBC Bank mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Mayfair who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Mayfair conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a long established estate agent office in Mayfair where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Mayfair conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

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 buyer.

Do you have any top tips for leasehold conveyancing in Mayfair from the perspective of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Mayfair can be bypassed where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
• Many landlords or managing agents in Mayfair charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Mayfair.
• If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Mayfair state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you fail to have the consents to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
• A minority of Mayfair leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
• If you are supposed to have a share in the freehold, you should make sure that you hold the original share document. Arranging a replacement share certificate can be a time consuming formality and frustrates many a Mayfair conveyancing deal. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

I have had difficulty in seeking a lease extension in Mayfair. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Lease Extension decision for a Mayfair residence is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case affected 1 flat. The the number of years remaining on the existing lease(s) was 21 years.

I purchased a garden flat in Mayfair, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar flats in Mayfair with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2079

With only 53 years unexpired we estimate the premium for your lease extension to range between £33,300 and £38,400 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.