Looking forward to complete next month on a leasehold property in Putney. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Putney should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• The physical extent of the property. This will be the flat itself but may include a loft or basement if appropriate.
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Are pets allowed in the flat?
• Whether the lease restricts you from renting out the property, or having a home office for business
• Ground rent - how much and when you need to pay, and also know whether this is subject to change
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?

I am looking at a two flats in Putney both have approximately 50 years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Putney. The lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

I work for a busy estate agency in Putney where we see a few flat sales put at risk as a result of short leases. I have received conflicting advice from local Putney conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension process for the buyer?

As long as the seller has owned the lease 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. The benefit of this is 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 has to be done prior to, or at the same time as completion of the disposal of the property.

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 buyer.

All being well we will complete the disposal of our £ 475000 flat in Putney next Wednesday . The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Putney?

Putney conveyancing on leasehold apartments normally requires the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to assist. They may invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have no choice but to pay whatever is demanded should you wish to complete the sale of your home.

After years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Putney. Can we issue an application to the Residential Property Tribunal Service?

Most definitely. We can put you in touch with a Putney conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Putney property is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case was in relation to 3 flats. The unexpired lease term was 66.25 years.

When it comes to leasehold conveyancing in Putney what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Putney. All leases are unique and legal mistakes in the legal wording can result in 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.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Virgin Money, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

I am the registered owner of a basement flat in Putney, conveyancing having been completed 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Putney with over 90 years remaining are worth £250,000. The average or mid-range amount of ground rent is £65 levied per year. The lease runs out on 21st October 2095

With 69 years left to run we estimate the premium for your lease extension to span between £8,600 and £9,800 plus professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.