Having had my offer accepted I require leasehold conveyancing in Clapham and Salph End. Before I get started I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Clapham and Salph End - 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.

Planning to complete next month on a garden flat in Clapham and Salph End. Conveyancing lawyers assured me that they report fully next week. What should I be looking out for?

The report on title for your leasehold conveyancing in Clapham and Salph End should include some of the following:

• The physical extent of the premises. This will be the property itself but may incorporate a loft or basement if applicable.

Estate agents have just been given the go-ahead to market my basement flat in Clapham and Salph End.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents will not acknowledge the buyer until 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've recently bought a leasehold flat in Clapham and Salph End. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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 makes a Clapham and Salph End lease problematic?

There is nothing unique about leasehold conveyancing in Clapham and Salph End. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Barnsley Building Society, and Platform Home Loans Ltd 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 buyer to withdraw.

Clapham and Salph End Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

Its a good idea to discover as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day matters such as the cleanliness of the communal areas. Enquire of other tenants if they are happy with their management. On a final note, find out the dates that you are obliged pay the maintenance charge to the appropriate party and specifically how they are spending the funds. The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this situation the lessees benefit from control and although a managing agent is usually employed where the building is larger than a house conversion, the managing agent retained by the leaseholders. This information is helpful as a) areas could cause problems for the building as the common areas may begin to deteriorate where services are not paid for b) if the tenants have an issue with the managing agents you will want to have all the details

Other Topics

Lease Extensions in Clapham and Salph End