Having checked my lease I have discovered that there are only Seventy years remaining on my flat in Mottingham. I now wish to extend my lease but my freeholder is can not be found. 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 granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the lessor. For most situations a specialist may be useful to carry out a search and to produce an expert document which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Mottingham.

My wife and I purchased a leasehold flat in Mottingham. Conveyancing and Barnsley Building Society mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Mottingham who acted for me is not around.Any advice?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Mottingham conveyancing lawyer to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two maisonettes in Mottingham which have about forty five years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Mottingham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. 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 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 Mottingham 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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 appointing a Mottingham conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Mottingham conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Mottingham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• What volume of lease extensions have they carried out in Mottingham in the last twenty four months?
• What are the charges for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Mottingham from the perspective of saving time on the sale process?

• Much of the frustration in leasehold conveyancing in Mottingham can be bypassed where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers solicitors.
• Many freeholders or managing agents in Mottingham charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Mottingham.
• Some Mottingham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
• If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a new share certificate is often a time consuming formality and delays many a Mottingham home move. Where a duplicate share is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
• You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Mottingham conveyancing firm to assist?

Where there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the premium.

An example of a Lease Extension decision for a Mottingham premises is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case was in relation to 1 flat. The remaining number of years on the lease was 23.26 years.

I invested in buying a basement flat in Mottingham, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Mottingham 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 2094

You have 68 years remaining on your lease the likely cost is going to be between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.