Leasehold Conveyancing in Abbey Wood - Get a Quote from the leasehold experts approved by your lender

Leasehold conveyancing in Abbey Wood is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Abbey Wood and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Abbey Wood leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Abbey Wood. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and 99.9% 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.

Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Abbey Wood. I now want to get lease extension but my landlord is missing. 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 granted an extra 90 years by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations a specialist should be useful to try and locate and to produce an expert document to be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Abbey Wood.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Abbey Wood. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Abbey Wood ?

The majority of houses in Abbey Wood are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Abbey Wood in which case you should be shopping around for a Abbey Wood conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.

Do you have any top tips for leasehold conveyancing in Abbey Wood with the aim of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Abbey Wood can be reduced where you instruct lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ conveyancers.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Abbey Wood leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. If you fail to have the paperwork in place you should not communicate with the landlord without checking with your solicitor first.
  • A minority of Abbey Wood leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Arranging a re-issued share certificate can be a time consuming formality and slows down many a Abbey Wood conveyancing deal. Where a duplicate share certificate is needed, do contact the company officers or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be wise to double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • I own a a ground floor purpose built flat in Abbey Wood. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

    Most definitely. We are happy to put you in touch with a Abbey Wood conveyancing firm who can help.

    An example of a Lease Extension case 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 the unexpired term as at the valuation date was 76 years.

    What makes a Abbey Wood lease unmortgageable?

    Leasehold conveyancing in Abbey Wood is not unique. Most leases is drafted differently and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Aldermore 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 is defective they may refuse to provide security, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Abbey Wood