Having had my offer accepted I require leasehold conveyancing in Tooting Bec. Before diving in I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% 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.

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

The lease dictates relations between the landlord and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Tooting Bec do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I have recently realised that I have 72 years left on my flat in Tooting Bec. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?

If 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 extended by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. For most situations an enquiry agent may be helpful to carry out a search and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the application to the County Court overseeing Tooting Bec.

Estate agents have just been given the go-ahead to market my ground floor flat in Tooting Bec.Conveyancing lawyers have not yet been instructed but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am attracted to a two apartments in Tooting Bec which have in the region of fifty 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 shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers 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 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 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.

I am the registered owner of a first floor flat in Tooting Bec. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

Most definitely. We can put you in touch with a Tooting Bec conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Tooting Bec premises 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 was in relation to 1 flat. The the unexpired term as at the valuation date was 62.94 years.

Tooting Bec Leasehold Conveyancing - A selection of Queries before buying

You will want to discover as much as possible regarding the company managing the block as they can either make life much simpler or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to day to day matters such as the cleanliness of the communal areas. Enquire of prospective neighbours if they are happy with them. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and specifically what you get for your money. What is the length of the lease? Be sure to find out if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in certain buildings in Tooting Bec. If you love the apartmentin Tooting Bec but your dog can’t move with you then you will be presented with a hard compromise.