There are only 72 years unexpired on my lease in Raynes Park. I am keen to get lease extension but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application 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 magistrate. However, you will be required to demonstrate that you have used your best endeavours to locate the landlord. On the whole an enquiry agent may be useful to carry out a search and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Raynes Park.

I own a leasehold house in Raynes Park. Conveyancing and Accord Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Raynes Park who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Raynes Park conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a long established estate agent office in Raynes Park where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Raynes Park conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence 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 kick-start 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 buyer.

Can you provide any advice for leasehold conveyancing in Raynes Park with the intention of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Raynes Park can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
• The majority landlords or managing agents in Raynes Park levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Raynes Park.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Raynes Park leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you dont have the paperwork in place do not communicate with the landlord without checking with your solicitor in advance.
• A minority of Raynes Park leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

I have given up seeking a lease extension in Raynes Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to arrive at the premium.

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 remaining number of years on the lease was 60.43 years.

Are there frequently found problems that you encounter in leases for Raynes Park properties?

Leasehold conveyancing in Raynes Park is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• A duty to insure the building
• 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

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I own a basement flat in Raynes Park, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Raynes Park with a long lease are worth £200,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2079

With 53 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 plus legals.

The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.