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Top Five Questions relating to Camberwell leasehold conveyancing

I have just appointed agents to market my ground floor apartment in Camberwell.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 management companies 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. This will smooth the conveyancing process.

I own a leasehold flat in Camberwell. Conveyancing and Godiva Mortgages Ltd mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Camberwell who acted for me is not around.What should I do?

The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Camberwell conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two maisonettes in Camberwell both have approximately forty five years left on the leases. Will this present a problem?

A lease is a right to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

What are your top tips when it comes to finding a Camberwell conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Camberwell conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Camberwell conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How many lease extensions has the firm carried out in Camberwell in the last 12 months?
  • What are the costs for lease extension conveyancing?

  • My wife and I have hit a brick wall in trying to purchase the freehold in Camberwell. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to decide the sum to be paid.

    An example of a Freehold Enfranchisement matter before the tribunal for a Camberwell residence is 28 Valmar Road in June 2013. this was a case with an absentee freeholder. As a result the leaseholders applied to the Lambeth County Court for an order dispensing with the giving of a notice of claim. On 25 April 2013 District Judge Zimmels made a vesting order and directed that the matter should be transferred to this tribunal to determine the premium. The tribunal concluded on a figure of £1,125 This case affected 3 flats. The unexpired lease term was 968 years.

    What makes a Camberwell lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Camberwell. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • 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 have difficulties 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, Leeds Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    Other Topics

    Lease Extensions in Camberwell