Due to exchange soon on a studio apartment in Rotherhithe. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

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

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Setting out your legal entitlements in relation to the communal areas in the block.E.G., does the lease permit a right of way over an accessway or hallways?
• You should be told what constitutes a Nuisance in the lease
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.

I own a leasehold house in Rotherhithe. Conveyancing and Britannia mortgage went though with no issue. 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 1996. The conveyancing practitioner in Rotherhithe who previously acted has now retired.What should I do?

First make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Rotherhithe conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured 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 couple of apartments in Rotherhithe both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Rotherhithe. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

I work for a busy estate agency in Rotherhithe where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Rotherhithe conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

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 buyer can avoid having to sit tight for 2 years to extend their lease. 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.

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.

What are your top tips when it comes to appointing a Rotherhithe conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Rotherhithe conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Rotherhithe conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How experienced is the practice with lease extension legislation?
• What volume of lease extensions have they carried out in Rotherhithe in the last 12 months?

I have had difficulty in trying to purchase the freehold in Rotherhithe. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the price payable.

An example of a Freehold Enfranchisement matter before the tribunal for a Rotherhithe property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired term was 101.61 years.

Rotherhithe Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing

Plenty Rotherhithe leasehold flats will have a service charge for the upkeep of the building levied on behalf of the landlord. Where you purchase the property you will have to pay this charge, normally periodically during the year. This may be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all likelihood there will be a rentcharge for you to pay annual, this is usually not a significant figure, say approximately £50-£100 but you need to check as occasionally it could be many hundreds of pounds. If a Rotherhithe lease has fewer than eighty years it will affect the value of the property. It is worth checking with your mortgage company that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this will be. Remember, in most cases you would need to own the property for a couple of years in order to be entitled to carry out a lease extension.