Having had my offer accepted I require leasehold conveyancing in South London. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in South London - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I only have 72 years unexpired on my lease in South London. I now want to get lease extension but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you have used your best endeavours to track down the lessor. In some cases a specialist should be helpful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing South London.

I am tempted by the attractive purchase price for a two flats in South London both have approximately fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in South London. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this arena

Last month I purchased a leasehold house in South London. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to finding a South London conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a South London conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non South London 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:

• Can they put you in touch with client in South London who can give a testimonial?

Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in South London. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We can put you in touch with a South London conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a South London property is Flat B 10 Grove Avenue in October 2013. Following a vesting order Clerkenwell and Shoreditch County Court 3rd July 2013 The tribunal determines that the premium payable for the lease extension was £36,215.00 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 65.21 years.

Other Topics

Lease Extensions in South London