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

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Kidbrooke leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Kidbrooke. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Kidbrooke - 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.

Planning to sign contracts shortly on a garden flat in Kidbrooke. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Kidbrooke should include some of the following:

  • Are you allowed to have a pet in the flat?
  • 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
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • 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.
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Kidbrooke please enquire of your conveyancer in ahead of your conveyancing in Kidbrooke

    • Back In 2004, I bought a leasehold house in Kidbrooke. Conveyancing and Accord Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Kidbrooke who acted for me is not around.What should I do?

    First contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Kidbrooke conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I've recently bought a leasehold property in Kidbrooke. Do I have any liability for service charges for periods before completion of my purchase?

    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. 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).

    Do you have any advice for leasehold conveyancing in Kidbrooke from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Kidbrooke can be reduced if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
    • The majority landlords or Management Companies in Kidbrooke charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Kidbrooke.
  • Some Kidbrooke leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 buyers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Kidbrooke conveyancing firm to represent me?

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

    An example of a Freehold Enfranchisement decision for a Kidbrooke residence is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case was in relation to 3 flats. The unexpired term was 69.05 years.