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While any conveyancing practice can theoretically handle your leasehold conveyancing in Abbey Wood, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Abbey Wood leasehold conveyancing

I am on look out for some leasehold conveyancing in Abbey Wood. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Abbey Wood - 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 have just started marketing my garden apartment in Abbey Wood.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?

The sensible thing to do is discharge 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 unless 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. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Abbey Wood. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

The majority of houses in Abbey Wood are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Abbey Wood in which case you should be shopping around for a Abbey Wood conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

What are your top tips when it comes to finding a Abbey Wood conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Abbey Wood conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Abbey Wood conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How many lease extensions has the firm completed in Abbey Wood in the last 12 months?
  • What are the charges for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Abbey Wood with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Abbey Wood can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • Many landlords or Management Companies in Abbey Wood levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Abbey Wood.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Abbey Wood state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Should you dont have the approvals to hand you should not contact the landlord without contacting your solicitor in the first instance.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the proprietor of a two-bedroom flat in Abbey Wood. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

    Absolutely. We can put you in touch with a Abbey Wood conveyancing firm who can help.

    An example of a Lease Extension decision for a Abbey Wood residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired term was 76 years.

    Other Topics

    Lease Extensions in Abbey Wood