Having had my offer accepted I require leasehold conveyancing in Greenwich. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Greenwich - 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've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Greenwich. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Greenwich ?

The majority of houses in Greenwich are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Greenwich in which case you should be shopping around for a Greenwich conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

I am attracted to a two flats in Greenwich which have approximately forty five years left on the leases. Will this present a problem?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the marketability 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 extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

What advice can you give us when it comes to appointing a Greenwich conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for lease extension works (regardless if they are a Greenwich conveyancing firm) it is most important 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 Greenwich conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• What volume of lease extensions have they carried out in Greenwich in the last 12 months?

We expect to complete the sale of our £250000 flat in Greenwich next Tuesday . The landlords agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Greenwich?

Greenwich conveyancing on leasehold flats often involves the purchaser’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They are entitled levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is not strictly payable. Reality however dictates that you have no option but to pay whatever is demanded should you wish to sell the property.

I have given up trying to purchase the freehold in Greenwich. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Where there is a absentee landlord or where there is disagreement 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 LVT to determine the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Greenwich property is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The remaining number of years on the lease was 72 years.

Other Topics

Lease Extensions in Greenwich