I am hoping to sign contracts shortly on a studio apartment in Twickenham. Conveyancing lawyers assured me that they will have a report out to me on Monday. What should I be looking out for?

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
• Are pets allowed in the flat?
• Does the lease prevent you from subletting the flat, or having a home office for business
• Whether your lease has a provision for a sinking fund?
• What you can do if a neighbour breach a clause of their lease?
• What the implications are if you breach a clause of your lease?

I am attracted to a couple of apartments in Twickenham which have approximately 50 years left on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Twickenham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. 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 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 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 Twickenham 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 the agreed 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 busy estate agency in Twickenham where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Twickenham conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner 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. The benefit of this is that the proposed purchaser can avoid having 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.

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 buyer.

Can you offer any advice when it comes to appointing a Twickenham conveyancing practice to carry out our lease extension conveyancing?

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

• If they are not ALEP accredited then what is the reason?
• How many lease extensions have they completed in Twickenham in the last year?

I own a ground floor flat in Twickenham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.

An example of a Lease Extension decision for a Twickenham property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired term was 60.45 years.

What are the frequently found problems that you come across in leases for Twickenham properties?

Leasehold conveyancing in Twickenham is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the property
• A duty to insure the building
• 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. HSBC Bank, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

I inherited a leasehold flat in Twickenham, conveyancing was carried out in 2006. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Twickenham with a long lease are worth £268,000. The ground rent is £45 per annum. The lease ceases on 21st October 2089

You have 63 years remaining on your lease the likely cost is going to be between £18,100 and £20,800 plus costs.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.