Leasehold Conveyancing in Herne Hill - Get a Quote from the leasehold experts approved by your lender

Leasehold conveyancing in Herne Hill is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Herne Hill and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Common questions relating to Herne Hill leasehold conveyancing

I am in need of some leasehold conveyancing in Herne Hill. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Herne Hill - 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 am hoping to exchange soon on a leasehold property in Herne Hill. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Does the lease prohibit wood flooring?
  • Whether the lease restricts you from renting out the flat, or working from home
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What you can do if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Herne Hill please ask your lawyer in ahead of your conveyancing in Herne Hill

  • I am attracted to a couple of apartments in Herne Hill which have about forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

    There are no two ways about it. A leasehold apartment in Herne Hill is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Herne Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Last month I purchased a leasehold property in Herne Hill. Am I liable to pay service charges relating to a period prior to my ownership?

    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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element 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).

    All being well we will complete the sale of our £450000 maisonette in Herne Hill next Wednesday . The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Herne Hill?

    Herne Hill conveyancing on leasehold apartments normally necessitates administration charges invoiced by managing agents :

    • Answering conveyancing due diligence enquiries
    • Where consent is required before sale in Herne Hill
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Herne Hill leasehold property is £350. For Herne Hill conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

    I am the leaseholder of a first flat in Herne Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?

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

    An example of a Freehold Enfranchisement decision for a Herne Hill residence is 66 Southwell Road in March 2012. By Order of Deputy District Judge Stone dated 25 January 2012 a vesting order was made. The determination of the purchase price was referred to the Tribunal who decided that the amount payable for the freehold should be£29,612.00 This case was in relation to 3 flats. The the number of years remaining on the existing lease(s) was 72.58 years.

    Other Topics

    Lease Extensions in Herne Hill