Planning to sign contracts shortly on a garden flat in Lewisham. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Lewisham should include some of the following:

• The physical extent of the premises. This will be the apartment itself but may incorporate a loft or cellar if appropriate.

Setting out your legal entitlements in respect of common areas in the building.For example, does the lease provide for a right of way over a path or hallways?

Whether your lease has a provision for a sinking fund?

You should have a good understanding of the insurance provisions

Changes to the flat (alterations and additions)

Responsibility for repairing the window frames

What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Lewisham please enquire of your conveyancer in ahead of your conveyancing in Lewisham

My wife and I purchased a leasehold flat in Lewisham. Conveyancing and Nottingham Building Society mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Lewisham who acted for me is not around.Any advice?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Lewisham conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two apartments in Lewisham which have approximately 50 years remaining on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Lewisham 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 salability of the premises. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. 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 Lewisham 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 a negotiator for a busy estate agency in Lewisham where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Lewisham conveyancing firms. Please can you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

Alternatively, it may be possible 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.

We expect to complete the disposal of our £325000 flat in Lewisham next Tuesday . The landlords agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Lewisham?

Lewisham conveyancing on leasehold flats ordinarily necessitates fees being levied by management companies :

• Addressing conveyancing due diligence questions
• Where consent is required before sale in Lewisham
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Lewisham leasehold property is £350. For Lewisham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

I am the proprietor of a second floor flat in Lewisham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?

in cases where there is a missing 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 judgment on the premium.

An example of a Lease Extension matter before the tribunal for a Lewisham flat 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 related to 2 flats. The the unexpired residue of the current lease was 72 years.

Other Topics

Lease Extensions in Lewisham