I want to rent out my leasehold apartment in Mortlake. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

The lease governs the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Mortlake do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

There are only Sixty One years remaining on my lease in Mortlake. I am keen to extend my lease but my freeholder is missing. What are my options?

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 lengthened by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the landlord. On the whole a specialist would be useful to try and locate and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court covering Mortlake.

Looking forward to sign contracts shortly on a studio apartment in Mortlake. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Mortlake should include some of the following:

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Does the lease require carpeting throughout thus preventing wood flooring?
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• 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.
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building

I am looking at a couple of apartments in Mortlake both have about 50 years remaining on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold flat in Mortlake is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and lenders, leases with under eighty years become less and less attractive. On a more upbeat 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 premises 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 Mortlake conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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.

What are your top tips when it comes to choosing a Mortlake conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Mortlake conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Mortlake conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• What volume of lease extensions have they conducted in Mortlake in the last 12 months?
• Can they put you in touch with client in Mortlake who can give a testimonial?

Having spent years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Mortlake. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

An example of a Freehold Enfranchisement decision for a Mortlake flat is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case was in relation to 3 flats. The the number of years remaining on the existing lease(s) was 66.25 years.

I acquired a ground floor flat in Mortlake, conveyancing having been completed 6 years ago. How much will my lease extension cost? Equivalent properties in Mortlake with a long lease are worth £234,000. The ground rent is £45 levied per year. The lease finishes on 21st October 2091

With only 65 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.