I am in need of some leasehold conveyancing in Dulwich. Before I set the wheels in motion I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Dulwich - 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.

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

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

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the demise. This will be the flat itself but could also include a loft or cellar if appropriate.
• Defining your rights in respect of the communal areas in the building.For instance, does the lease include a right of way over a path or staircase?
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• 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
• The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
• What the implications are if you breach a clause of your lease?

I am attracted to a couple of maisonettes in Dulwich both have approximately 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Dulwich. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this area

Can you provide any advice for leasehold conveyancing in Dulwich with the intention of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Dulwich can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
• Many landlords or Management Companies in Dulwich charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. 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 Dulwich.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Dulwich leases often stipulate that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such works. Where you fail to have the consents to hand do not contact the landlord without checking with your lawyer in advance.
• Some Dulwich leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet 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 solicitors.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 80 years. It is therefore essential 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.

My wife and I have hit a brick wall in trying to purchase the freehold in Dulwich. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Absolutely. We are happy to put you in touch with a Dulwich conveyancing firm who can help.

An example of a Lease Extension decision for a Dulwich property is 60 Taymount Grange Taymount Rise in June 2012. The Tribunal determined the premium at £13,346 for a lease extension of a further 90 years This case related to 1 flat. The unexpired lease term was 64 years.

What are the common deficiencies that you see in leases for Dulwich properties?

There is nothing unique about leasehold conveyancing in Dulwich. All leases are unique and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations 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 primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Virgin Money, and Platform Home Loans Ltd 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 grant the mortgage, forcing the buyer to pull out.

Dulwich Leasehold Conveyancing - A selection of Questions you should ask before buying

The prefered form of lease structure is a share of the freehold. In this arrangement the tenants have control and even though a managing agent is usually employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Who takes responsibility for maintaining and repairing the building?