Fixed-fee leasehold conveyancing in Clapham:

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Questions and Answers: Clapham leasehold conveyancing

I am hoping to sign contracts shortly on a basement flat in Clapham. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Clapham should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • Setting out your legal entitlements in relation to the communal areas in the block.For instance, does the lease grant a right of way over an accessway or hallways?
  • Whether the lease restricts you from letting out the flat, or working from home
  • You must be told what constitutes a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Changes to the flat (alterations and additions)
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be included in your report on your leasehold property in Clapham please ask your lawyer in ahead of your conveyancing in Clapham

    • I am attracted to a two flats in Clapham both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?

    A lease is a right to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field

    I've recently bought a leasehold house in Clapham. Am I liable to pay service charges for periods before my ownership?

    Where the service charge has already been demanded from the previous lessee 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 advice can you give us when it comes to choosing a Clapham conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for lease extension works (regardless if they are a Clapham conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Clapham conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

    • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Clapham who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Clapham from the point of view of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Clapham can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Clapham levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Clapham.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and slows down many a Clapham home move. Where a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is under 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 premises on the market for sale.

    • We have reached the end of our tether in negotiating a lease extension in Clapham. Can this matter be resolved via the Leasehold Valuation Tribunal?

    if there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the premium.

    An example of a Freehold Enfranchisement matter before the tribunal for a Clapham property is 23 Chelsham Road in May 2013. the Tribunal found that the sum of £13,870.00 was payable for the freehold following a vestig order having been granted by Swansea County Court dated 1st March 2013 This case affected 3 flats. The the unexpired residue of the current lease was 99 years.