Experts for Leasehold Conveyancing in Hampton Wick

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When it comes to leasehold conveyancing in Hampton Wick, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Lloyds, Birmingham Midshires or Nationwide be sure to choose a lawyer on their approved list. Feel free to use our search tool

Questions and Answers: Hampton Wick leasehold conveyancing

I am on look out for some leasehold conveyancing in Hampton Wick. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Hampton Wick - 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.

Due to complete next month on a studio apartment in Hampton Wick. Conveyancing solicitors assured me that they are sending me a report next week. What should I be looking out for?

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

  • The total extent of the demise. This will be the apartment itself but may incorporate a loft or basement if applicable.
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Hampton Wick please enquire of your lawyer in ahead of your conveyancing in Hampton Wick

    • I've recently bought a leasehold property in Hampton Wick. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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).

    Do you have any advice for leasehold conveyancing in Hampton Wick with the aim of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Hampton Wick can be avoided if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
    • The majority landlords or Management Companies in Hampton Wick levy fees for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Hampton Wick.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Hampton Wick state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you dont have the approvals in place do not communicate with the landlord without contacting your conveyancer before hand.
  • A minority of Hampton Wick leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 lawyers.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved.

    • I am the registered owner of a first floor flat in Hampton Wick. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?

    Absolutely. 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.

    What makes a Hampton Wick lease problematic?

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

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Chelsea Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Hampton Wick