I would like to sublet my leasehold flat in Wapping. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your last Wapping conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to seek consent from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining consent. Such consent is not allowed to be unreasonably turned down. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

There are only Sixty One years unexpired on my flat in Wapping. I am keen to get lease extension but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission 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 prove that you or your lawyers have made all reasonable attempts to find the landlord. 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 wise to seek advice from a solicitor both on devolving into the landlord’s absence and the application to the County Court overseeing Wapping.

I am employed by a reputable estate agency in Wapping where we see a few flat sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Wapping conveyancing solicitors. Please can you confirm whether the vendor of a flat can start the lease extension process for the buyer?

As long as 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. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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 buyer.

What are your top tips when it comes to finding a Wapping conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Wapping conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Wapping conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• Can they put you in touch with client in Wapping who can give a testimonial?
• What are the costs for lease extension conveyancing?

I inherited a basement flat in Wapping. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

Most certainly. We can put you in touch with a Wapping conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Wapping flat is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The the unexpired residue of the current lease was 107 years.

What makes a Wapping lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Wapping. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the property
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Alliance & Leicester all have express 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, obliging the buyer to pull out.

I purchased a ground floor flat in Wapping, conveyancing was carried out 2002. Can you work out an approximate cost of a lease extension? Corresponding flats in Wapping with an extended lease are worth £210,000. The average or mid-range amount of ground rent is £60 yearly. The lease ends on 21st October 2095

With just 69 years remaining on your lease we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.