I am in need of some leasehold conveyancing in Tooting Bec. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Tooting Bec - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Frank (my husband) and I may need to let out our Tooting Bec 1st floor flat temporarily due to a career opportunity. We used a Tooting Bec conveyancing firm in 2001 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?

A lease governs relations between the landlord and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Tooting Bec do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I only have 68 years left on my flat in Tooting Bec. I am keen to extend my lease but my landlord is absent. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have used your best endeavours to locate the freeholder. In some cases an enquiry agent may be helpful to conduct investigations and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Tooting Bec.

I am looking at a two apartments in Tooting Bec both have in the region of 50 years left on the leases. should I be concerned?

There is no doubt about it. A leasehold apartment in Tooting Bec is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the value of the property. The majority of purchasers and lenders, leases with under 75 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 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 a residence 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 Tooting Bec 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I am a negotiator for a reputable estate agency in Tooting Bec where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Tooting Bec conveyancing solicitors. Please can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that 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 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 at the same time as completion of the sale.

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 buyer.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Tooting Bec conveyancing firm to assist?

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 First-tier Tribunal (Property Chamber) to determine the price.

An example of a Lease Extension matter before the tribunal for a Tooting Bec flat is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The the unexpired residue of the current lease was 62.94 years.