You should [be sent a copy of the lease|receive a copy of the lease]

Expecting to exchange soon on a garden flat in New Eltham. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

• The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Does the lease prohibit wood flooring?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• What the implications are if you breach a clause of your lease?

For a comprehensive list of information to be included in your report on your leasehold property in New Eltham please enquire of your conveyancer in advance of your conveyancing in New Eltham

I've found a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in New Eltham. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in New Eltham are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in New Eltham so you should seriously consider shopping around for a New Eltham conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

I am employed by a long established estate agent office in New Eltham where we have witnessed a number of flat sales jeopardised due to short leases. I have received contradictory information from local New Eltham conveyancing firms. Please can you clarify whether the owner of a flat can commence the lease extension process 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. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

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.

We expect to complete the disposal of our £ 175000 garden flat in New Eltham on Monday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in New Eltham?

For the majority of leasehold sales in New Eltham conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing conveyancing due diligence questions
• Where consent is required before sale in New Eltham
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for New Eltham leasehold property is £350. For New Eltham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

My wife and I have hit a brick wall in seeking a lease extension in New Eltham. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

An example of a Lease Extension case for a New Eltham property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.

What makes a New Eltham lease unmortgageable?

There is nothing unique about leasehold conveyancing in New Eltham. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Bank of Scotland, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I invested in buying a leasehold flat in New Eltham, conveyancing was carried out 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in New Eltham with over 90 years remaining are worth £270,000. The average or mid-range amount of ground rent is £50 yearly. The lease finishes on 21st October 2102

With just 76 years left to run we estimate the premium for your lease extension to range between £11,400 and £13,200 as well as professional fees.

The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.