I only have 72 years remaining on my lease in Putney. I am keen to get lease extension but my landlord is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. On the whole a specialist would be helpful to try and locate and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Putney.

I own a leasehold house in Putney. Conveyancing and Britannia mortgage are in place. A letter has just been received 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 1993. The conveyancing practitioner in Putney who acted for me is not around.Any advice?

First contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Putney conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am attracted to a couple of flats in Putney both have approximately forty five years left on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold house in Putney. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I work for a reputable estate agent office in Putney where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have been given inconsistent advice from local Putney conveyancing firms. Could you shed some light as to whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. 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.

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 purchaser.

I am the registered owner of a two-bedroom flat in Putney. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?

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

An example of a Freehold Enfranchisement case 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 affected 3 flats. The the unexpired term as at the valuation date was 66.25 years.

I purchased a 1 bedroom flat in Putney, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Putney with over 90 years remaining are worth £188,000. The average or mid-range amount of ground rent is £65 per annum. The lease runs out on 21st October 2082

With only 56 years unexpired we estimate the price of your lease extension to span between £24,700 and £28,600 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.