You should [be sent a copy of the lease|receive a copy of the lease]

Planning to exchange soon on a leasehold property in St Paul's Cray. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in St Paul's Cray should include some of the following:

• The physical extent of the premises. This will be the property itself but may include a roof space or basement if appropriate.
• Does the lease prevent you from renting out the flat, or working from home
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• Changes to the flat (alterations and additions)
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• What the implications are if you breach a clause of your lease?

For a comprehensive list of information to be included in your report on your leasehold property in St Paul's Cray please enquire of your conveyancer in ahead of your conveyancing in St Paul's Cray

I own a leasehold house in St Paul's Cray. Conveyancing and Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in St Paul's Cray who acted for me is not around.Do I pay?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a St Paul's Cray conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, 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 St Paul's Cray both have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There are plenty of short leases in St Paul's Cray. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the value of the lease decreases and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena

I work for a reputable estate agency in St Paul's Cray where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local St Paul's Cray conveyancing firms. Can you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in St Paul's Cray. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to assess the sum to be paid.

An example of a Lease Extension decision for a St Paul's Cray property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired lease term was 50.57 years.

What makes a St Paul's Cray lease defective?

Leasehold conveyancing in St Paul's Cray is not unique. Most leases are unique and drafting errors can result in certain provisions are wrong. 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 building
• Insurance obligations
• 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

You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Leeds Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

I am the registered owner of a leasehold flat in St Paul's Cray, conveyancing was carried out in 2000. How much will my lease extension cost? Similar properties in St Paul's Cray with over 90 years remaining are worth £256,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2093

With only 67 years remaining on your lease the likely cost is going to range between £13,300 and £15,400 plus professional fees.

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 tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.