I only have Seventy years remaining on my flat in Westcombe Park. I need to extend my lease but my landlord 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 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 lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. On the whole an enquiry agent should be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Westcombe Park.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Westcombe Park. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Westcombe Park are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Westcombe Park in which case you should be looking for a Westcombe Park conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am looking at a two maisonettes in Westcombe Park which have in the region of 50 years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Westcombe Park is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and banks, leases with less than 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 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 Westcombe Park 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 They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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 employed by a reputable estate agent office in Westcombe Park where we see a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Westcombe Park conveyancing solicitors. Could you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?

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. This means 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 has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is 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.

What advice can you give us when it comes to choosing a Westcombe Park conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Westcombe Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Westcombe Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

• How many lease extensions has the firm completed in Westcombe Park in the last year?
• What are the legal fees for lease extension work?

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Westcombe Park conveyancing firm to act on my behalf?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to calculate the price payable.

An example of a Lease Extension matter before the tribunal for a Westcombe Park residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The the number of years remaining on the existing lease(s) was 72 years.

Westcombe Park Leasehold Conveyancing - Sample of Questions you should consider before Purchasing

Does the lease have onerous restrictions? You will want to discover as much as you can about the managing agents as they will either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical issues such as the cleanliness of the common parts. Ask other tenants what they think of their management. In conclusion, be sure you discover the dates that the service charges are due to the appropriate party and specifically how they are spending that money. It is important to be aware whether fixing the lift or some other major work is anticipated to be shared between the leaseholders and will materially increase the the service charges or result in a specific invoice.