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East Dulwich leasehold conveyancing: Q and A’s

I only have Sixty One years unexpired on my flat in East Dulwich. I now want to extend my lease but my landlord is missing. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to find the landlord. For most situations an enquiry agent should be useful to carry out a search and prepare an expert document which can be used as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the application to the County Court covering East Dulwich.

Due to exchange soon on a leasehold property in East Dulwich. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • 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
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What you can do if a neighbour breach a clause of their lease? For a comprehensive list of information to be included in your report on your leasehold property in East Dulwich please enquire of your conveyancer in ahead of your conveyancing in East Dulwich

    • I have just started marketing my basement apartment in East Dulwich.Conveyancing has not commenced but I have just had a yearly maintenance charge invoice – what should I do?

    It best that you 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 unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

    I am attracted to a two maisonettes in East Dulwich both have approximately 50 years remaining on the leases. should I be concerned?

    There are plenty of short leases in East Dulwich. The lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

    Can you provide any top tips for leasehold conveyancing in East Dulwich with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in East Dulwich can be reduced if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers solicitors.
    • Many landlords or managing agents in East Dulwich charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in East Dulwich.
  • A minority of East 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 bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Organising a re-issued share certificate is often a lengthy process and delays many a East Dulwich home move. If a reissued share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a East Dulwich conveyancing firm to represent me?

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

    An example of a Lease Extension decision for a East Dulwich premises is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 61.81 years.

    Other Topics

    Lease Extensions in East Dulwich