I have recently realised that I have 72 years remaining on my lease in South West London. I now wish to get lease extension but my landlord is missing. What should I do?

On the basis that you qualify, 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 enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have used your best endeavours to track down the freeholder. On the whole a specialist should be helpful to try and locate and prepare an expert document which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing South West London.

I’m about to sell my ground floor flat in South West London.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you clear the invoice 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 management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am looking at a two maisonettes in South West London which have approximately forty five years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field

What are your top tips when it comes to appointing a South West London conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a property lawyer for lease extension works (regardless if they are a South West London conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non South West London conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• Can they put you in touch with client in South West London who can give a testimonial?
• What are the legal fees for lease extension conveyancing?

I am the leaseholder of a ground-floor 1960’s flat in South West London. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

You certainly can. We can put you in touch with a South West London conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a South West London property is 78 & 80 Newport Road in January 2013. the Tribunal concluded that the premium to be paid by the leaseholder in respect of the freehold reversion is £23,105 This case related to 2 flats. The the unexpired term as at the valuation date was 71.63 years.

In relation to leasehold conveyancing in South West London what are the most common lease defects?

Leasehold conveyancing in South West London is not unique. All leases are unique and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and TSB all have very detailed 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 defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in South West London - Examples of Questions you should ask before Purchasing

You should be aware that where the lease has less than eighty years it will have adverse implications on the marketability of the apartment. Check with your mortgage company that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this will be. For most South West Londonlease extensions you would need to own the premises for a couple of years in order to be entitled to exercise a lease extension. You should want to find out as much as possible about the company managing the building as they can either make your life much simpler or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the common parts. You should not be shy to ask other people whether they are happy with them. In conclusion, be sure you understand the dates that you are obliged pay the service charge to the appropriate party and precisely what it includes.