I am looking at a couple of flats in Clapham which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Clapham. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena

I am employed by a reputable estate agent office in Clapham where we have experienced a few leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Clapham conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What advice can you give us when it comes to appointing a Clapham conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Clapham conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Clapham 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 experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Clapham who can give a testimonial?

Do you have any advice for leasehold conveyancing in Clapham with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Clapham can be reduced where you appoint lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers representatives.
• The majority freeholders or managing agents in Clapham charge for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding 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 frequent reason for delay in leasehold conveyancing in Clapham.
• If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and pay 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 clearly preferable to present the dispute as over as opposed to unresolved.
• If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Arranging a replacement share certificate is often a time consuming process and frustrates many a Clapham home move. Where a reissued share is needed, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Completion in due on our sale of a £ 175000 apartment in Clapham on Wednesday in a week. The management company has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Clapham?

Clapham conveyancing on leasehold apartments nine out of ten times necessitates fees being raised by landlords agents :

• Completing conveyancing due diligence enquiries
• Where consent is required before sale in Clapham
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Clapham leasehold property is £350. For Clapham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

I have had difficulty in seeking a lease extension in Clapham. Can this matter be resolved via the Leasehold Valuation Tribunal?

if 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 arrive at the amount due.

An example of a Freehold Enfranchisement case for a Clapham premises is 23 Chelsham Road in May 2013. the Tribunal fou
nd 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 was in relation to 3 flats. The unexpired term was 99 years.

Clapham Conveyancing for Leasehold Flats - A selection of Queries before buying

How is the lease structured?