Having had my offer accepted I require leasehold conveyancing in Hampton Wick. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and most are in Hampton Wick - then the leasehold title will always include the short particulars 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 attracted to a couple of maisonettes in Hampton Wick both have about forty five years unexpired on the leases. should I be concerned?

A lease is a right to use the premises for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. This is why it is advisable to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Hampton Wick. Am I liable to pay service charges relating to a period prior to completion of my purchase?

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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

I am employed by a busy estate agency in Hampton Wick where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Hampton Wick conveyancing firms. Could you confirm whether the vendor of a flat can instigate the lease extension process for the buyer?

As long as the seller has been the owner 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. This means 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 before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Hampton Wick conveyancing firm to act on my behalf?

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

An example of a Lease Extension matter before the tribunal for a Hampton Wick property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.

What are the common defects that you come across in leases for Hampton Wick properties?

Leasehold conveyancing in Hampton Wick is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

Hampton Wick Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

How much is the service charge and ground rent on the apartment? The best form of lease structure is where the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders have being in charge if their destiny and notwithstanding that a managing agent is often retained if it is larger than a house conversion, the managing agent employed by the leaseholders.