Having had my offer accepted I require leasehold conveyancing in New Cross. Before diving in I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in New Cross - then the leasehold title will always include the short particulars 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.

Jane (my partner) and I may need to sub-let our New Cross ground floor flat for a while due to a new job. We used a New Cross conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Your lease governs relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in New Cross do not prevent subletting altogether – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Estate agents have just been given the go-ahead to market my basement flat in New Cross.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – Do I pay up?

It best that you pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that seems to meet my requirements, at a reasonable 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 issues purchasing a leasehold house in New Cross. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in New Cross are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in New Cross in which case you should be shopping around for a New Cross conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

I am looking at a couple of apartments in New Cross which have approximately 50 years left on the leases. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

We have reached the end of our tether in trying to purchase the freehold in New Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing freeholder or if there is dispute 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 judgment on the price payable.

An example of a Freehold Enfranchisement case for a New Cross flat is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case related to 3 flats. The unexpired term was 80.01 years.

Leasehold Conveyancing in New Cross - A selection of Questions you should ask Prior to buying

How much is the yearly service fee and ground rent? Generally speaking the cost for major works are not included within maintenance charges, albeit that there some managing agents in New Cross ask leasehold owners to pay into a reserve fund and this is used to offset against larger repairs or maintenance.