I would like to rent out my leasehold apartment in Victoria Docks. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Your lease governs relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Victoria Docks do not prevent subletting altogether – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

There are only 68 years remaining on my lease in Victoria Docks. I now want to extend my lease but my landlord is missing. What options are available to me?

If 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 extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent may be useful to conduct investigations and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Victoria Docks.

Due to exchange soon on a leasehold property in Victoria Docks. Conveyancing lawyers assured me that they are sending me a report tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in Victoria Docks should include some of the following:

• The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years

I am looking at a two apartments in Victoria Docks both have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold flat in Victoria Docks is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of purchasers and banks, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 Victoria Docks 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.

What are your top tips when it comes to finding a Victoria Docks conveyancing practice to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Victoria Docks conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Victoria Docks conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?

I am the proprietor of a garden flat in Victoria Docks. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?

if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the amount due.

An example of a Lease Extension case for a Victoria Docks premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired lease term was 69.77 years.

Other Topics

Lease Extensions in Victoria Docks