I am intending to sublet my leasehold flat in Parsons Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

The lease governs relations between the freeholder and you the flat owner; in particular, it will set out if subletting is banned, 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 Parsons Green do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I own a leasehold flat in Parsons Green. Conveyancing and National Westminster Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Parsons Green who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Parsons Green conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a couple of maisonettes in Parsons Green both have in the region of forty five years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Parsons Green is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. For most purchasers and banks, leases with under eighty 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 property 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 Parsons Green 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.

I am employed by a reputable estate agent office in Parsons Green where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Parsons Green conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

What advice can you give us when it comes to finding a Parsons Green conveyancing practice to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Parsons Green conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Parsons Green conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• How familiar is the firm with lease extension legislation?
• What volume of lease extensions has the firm completed in Parsons Green in the last 12 months?

Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Parsons Green. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to arrive at the amount due.

An example of a Freehold Enfranchisement matter before the tribunal for a Parsons Green property is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case was in relation to 2 flats. The the unexpired term as at the valuation date was 93 years and 162 years.

I invested in buying a ground floor flat in Parsons Green, conveyancing formalities finalised in 2000. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Parsons Green with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £50 per annum. The lease ends on 21st October 2080

With 54 years unexpired we estimate the price of your lease extension to range between £30,400 and £35,200 plus professional fees.

The suggested premium range above 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 investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.