Fixed-fee leasehold conveyancing in Blackheath:

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When it comes to leasehold conveyancing in Blackheath, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or NatWest make sure you choose a lawyer on their approved list. Feel free to use our search tool

Top Five Questions relating to Blackheath leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Blackheath. Before I get started I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Blackheath - then the leasehold title will always include the basic details 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.

Back In 2007, I bought a leasehold house in Blackheath. Conveyancing and Britannia mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Blackheath who previously acted has long since retired.What should I do?

First contact HMLR to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Blackheath conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold property in Blackheath. Am I liable to pay service charges relating to a period prior to my ownership?

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 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).

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

  • Much of the frustration in leasehold conveyancing in Blackheath can be avoided if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
  • The majority landlords or managing agents in Blackheath levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Blackheath.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Blackheath leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. Where you fail to have the paperwork in place you should not communicate with the landlord without contacting your lawyer before hand.
  • Some Blackheath leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 buyers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Blackheath conveyancing firm to help?

    You certainly can. We can put you in touch with a Blackheath conveyancing firm who can help.

    An example of a Lease Extension case for a Blackheath premises is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The the unexpired residue of the current lease was 72 years.

    What makes a Blackheath lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Blackheath. Most leases is drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts 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 may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Mortgage Works, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Blackheath