Jane (my partner) and I may need to sub-let our Norbury ground floor flat for a while due to a new job. We instructed a Norbury conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

The lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Norbury do not contain subletting altogether – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

Due to complete next month on a studio apartment in Norbury. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The total extent of the premises. This will be the apartment itself but could also incorporate a loft or basement if appropriate.
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• What options are open to you if a neighbour is in violation of a provision in their lease?

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Norbury. Conveyancing lawyers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Norbury ?

Most houses in Norbury are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Norbury so you should seriously consider shopping around for a Norbury conveyancing practitioner 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 tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your solicitor will appraise you on the various issues.

I am tempted by the attractive purchase price for a couple of flats in Norbury both have in the region of forty five years remaining on the leases. Will this present a problem?

There are plenty of short leases in Norbury. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Norbury conveyancing firm to represent me?

in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the premium.

An example of a Lease Extension matter before the tribunal for a Norbury property is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case related to 1 flat. The unexpired lease term was 23.25 years.

Are there frequently found problems that you witness in leases for Norbury properties?

There is nothing unique about leasehold conveyancing in Norbury. Most leases are unique and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Leeds Building Society, and TSB 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 grant the mortgage, obliging the buyer to pull out.

Norbury Leasehold Conveyancing - Examples of Queries Prior to buying

The best form of lease arrangement is if the freehold interest is owned by the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Where a Norbury lease has no more than 80 years it will affect the value of the property. It is worth checking with your lender that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth finding out how much this will be. For most Norburylease extensions you would be be obliged to have owned the residence for 24 months in order to be entitled to extend the lease.