I would like to let out my leasehold apartment in Southfields. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Southfields conveyancing lawyer is not around you can review your lease to check if it allows you to sublet the premises. The rule is that if the lease is non-specific, subletting is permitted. There may be a precondition that you must seek consent via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining consent. Such consent is not allowed to be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.

I am tempted by the attractive purchase price for a couple of maisonettes in Southfields which have in the region of 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Southfields is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and banks, leases with under eighty years become less and less attractive. 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 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 Southfields 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 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 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.

Last month I purchased a leasehold house in Southfields. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee 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).

Can you offer any advice when it comes to finding a Southfields conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Southfields conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Southfields 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:

• If they are not ALEP accredited then why not?
• What are the charges for lease extension conveyancing?

Do you have any advice for leasehold conveyancing in Southfields with the aim of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in Southfields can be avoided if you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
• Many landlords or Management Companies in Southfields levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Southfields.
• If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Southfields state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such changes. If you fail to have the paperwork in place do not communicate with the landlord without checking with your lawyer in the first instance.
• A minority of Southfields leases require Licence to Assign from the landlord. If this applies to your lease, 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 buyers or their solicitors.
• If there is a history of any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing.

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

in cases where 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 it is possible to make an application to the Leasehold Valuation Tribunal to determine the premium.

An example of a Lease Extension case for a Southfields residence is 83 Balvernie Grove in February 2012. The Tribunal assessed the price to be paid by the leaseholder to the freeholder for the lease extension pursuant to section 48 of the Leasehold Reform Housing & Urban Development Act 1993 should be£16,603.00 This case related to 1 flat. The the unexpired term as at the valuation date was 69.32 years.

Southfields Leasehold Conveyancing - Examples of Queries Prior to buying

Is the freehold reversion owned collectively by the leaseholders? Make sure you find out if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Southfields. If you like the flatin Southfields but your dog can’t live with you then you will be presented with a hard decision.