I am in need of some leasehold conveyancing in Pimlico. Before I get started I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Pimlico - then the leasehold title will always include the basic details 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.

I am attracted to a couple of flats in Pimlico both have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the saleability of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area

I am employed by a busy estate agency in Pimlico where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Pimlico conveyancing solicitors. Can you shed some light as to whether the owner of a flat can instigate the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. 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 sale.

An alternative approach is 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 purchaser.

If all goes to plan we aim to complete the disposal of our £ 375000 garden flat in Pimlico on Friday in a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Pimlico?

Pimlico conveyancing on leasehold maisonettes more often than not requires the buyer’s solicitor submitting questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are at liberty invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is £350, in some situations it is above £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. In reality you have little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I have given up negotiating a lease extension in Pimlico. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We are happy to put you in touch with a Pimlico conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Pimlico premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The unexpired lease term was 56 years.

What are the frequently found defects that you witness in leases for Pimlico properties?

Leasehold conveyancing in Pimlico is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

Pimlico Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing

Is anyone aware of any major works on the horizon that will increase the service costs? The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees enjoy being in charge if their destiny and although a managing agent is often retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves.