My fiance and I may need to sub-let our Sidcup basement flat temporarily due to a new job. We instructed a Sidcup conveyancing practice in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease dictates the relationship between the landlord and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Sidcup do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I am attracted to a couple of maisonettes in Sidcup both have in the region of forty five years left on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Sidcup is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. The majority of buyers 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 premises 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 property 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 Sidcup conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

Last month I purchased a leasehold flat in Sidcup. Do I have any liability for service charges relating to a period prior to my ownership?

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 be sure 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).

What are your top tips when it comes to appointing a Sidcup conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for lease extension works (regardless if they are a Sidcup conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Sidcup conveyancing practices prior to 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 firm with lease extension legislation?
• If the firm is not ALEP accredited then what is the reason?

I own a ground-floor 1950’s flat in Sidcup. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?

in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the price payable.

An example of a Lease Extension matter before the tribunal for a Sidcup property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.

What makes a Sidcup lease problematic?

Leasehold conveyancing in Sidcup is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Sidcup Leasehold Conveyancing - A selection of Queries Prior to Purchasing

Best to be warned whether changing the roof or some other significant cost is coming up that will be shared between the leasehold owners and may well dramatically impact the level of the maintenance fees or necessitate a one time payment. It would be prudent to discover as much as you can about the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to daily issues such as the tidiness of the communal areas. You should not be afraid to ask prospective neighbours what they think of them. In conclusion, be sure you understand the dates that the maintenance charges are due to the managing agents and precisely how they are spending the funds.