There are only 72 years unexpired on my flat in Tokyngton. I now wish to get lease extension but my freeholder is can not be found. What are my options?

If you qualify, 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 mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. For most situations an enquiry agent should be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court covering Tokyngton.

Expecting to sign contracts shortly on a ground floor flat in Tokyngton. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Tokyngton should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What options are open to you if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I am attracted to a two flats in Tokyngton both have approximately fifty years left on the lease term. should I be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

Last month I purchased a leasehold house in Tokyngton. Do I have any liability for service charges relating to a period prior to 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. However, 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).

I am a negotiator for a long established estate agent office in Tokyngton where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Tokyngton conveyancing firms. Can you clarify whether the seller of a flat can initiate the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, 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 purchaser.

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Tokyngton conveyancing firm to help?

Absolutely. We are happy to put you in touch with a Tokyngton conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Tokyngton property is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The remaining number of years on the lease was 74 years.

Leasehold Conveyancing in Tokyngton - Sample of Queries before buying

How long is the Lease?