I am on look out for some leasehold conveyancing in Hampton Wick. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.

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 have just started marketing my ground floor apartment in Hampton Wick.Conveyancing is yet to be initiated but I have just had a half-yearly service charge demand – what should I do?

It best that you pay the invoice 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 managing agents 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 tempted by the attractive purchase price for a couple of flats in Hampton Wick which have approximately fifty years left on the lease term. Will this present a problem?

There are plenty of short leases in Hampton Wick. The lease is a right to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field

What are your top tips when it comes to finding a Hampton Wick conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Hampton Wick conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Hampton Wick conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

• If they are not ALEP accredited then what is the reason?

I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hampton Wick conveyancing firm to act on my behalf?

You certainly can. We can put you in touch with a Hampton Wick conveyancing firm who can help.

An example of a Lease Extension case 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 was in relation to 1 flat.

Are there frequently found deficiencies that you witness in leases for Hampton Wick properties?

Leasehold conveyancing in Hampton Wick is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.

Other Topics

Lease Extensions in Hampton Wick