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

Leasehold conveyancing in Kennington 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 Kennington and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Kennington leasehold conveyancing

There are only 68 years unexpired on my flat in Kennington. I now want to extend my lease but my freeholder is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. For most situations a specialist may be useful to carry out a search and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Kennington.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Kennington. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Kennington are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Kennington so you should seriously consider shopping around for a Kennington conveyancing solicitor and be sure that they are used to transacting 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 freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

I've recently bought a leasehold property in Kennington. Am I liable to pay service charges for periods before my ownership?

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).

Completion in due on the sale of our £300000 garden flat in Kennington in 5 days. The management company has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Kennington?

Kennington conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.

Notwithstanding our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Kennington. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most definitely. We can put you in touch with a Kennington conveyancing firm who can help.

An example of a Lease Extension case for a Kennington residence is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case related to 1 flat. The the unexpired term as at the valuation date was 74.77 years.

In relation to leasehold conveyancing in Kennington what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Kennington. Most leases are individual and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

  • Repairing obligations to or maintain elements of the property
  • Insurance obligations
  • 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Mortgage Works, and Clydesdale 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 grant the mortgage, obliging the purchaser to pull out.

Other Topics

Lease Extensions in Kennington