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

If the lease is recorded at the land registry - and almost all are in Raynes Park - then the leasehold title will always include the short particulars 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.

My wife and I may need to rent out our Raynes Park basement flat temporarily due to a career opportunity. We instructed a Raynes Park conveyancing practice in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Even though your previous Raynes Park conveyancing solicitor is no longer around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party before subletting. The net result is that you cannot sublet without first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord for their consent.

I today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Raynes Park. Conveyancing lawyers have are about to be instructed. Will they explain the issues?

Most houses in Raynes Park are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Raynes Park so you should seriously consider shopping around for a Raynes Park conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should report to you on the legal implications.

My wife and I purchased a leasehold house in Raynes Park. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Raynes Park who acted for me is not around.Do I pay?

First contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Raynes Park conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two maisonettes in Raynes Park both have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Raynes Park is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the property. For most purchasers and banks, leases with less than eighty years become less and less marketable. On a more positive 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 premises 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 Raynes Park 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 the agreed 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.

After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Raynes Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

if there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to assess the price payable.

An example of a Lease Extension decision for a Raynes Park premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired lease term was 60.43 years.

I own a split level flat in Raynes Park, conveyancing formalities finalised 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Raynes Park with a long lease are worth £211,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2083

With 57 years left to run we estimate the price of your lease extension to be between £24,700 and £28,600 plus legals.

The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.