Due to exchange soon on a basement flat in Lambeth. Conveyancing solicitors inform me that they will have a report out to me on Monday. What should I be looking out for?

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

• Are you allowed to have a pet in the flat?

Back In 2004, I bought a leasehold flat in Lambeth. Conveyancing and Godiva Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Lambeth who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Lambeth conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two maisonettes in Lambeth both have about forty five years remaining on the leases. Do I need to be concerned?

There are plenty of short leases in Lambeth. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold house in Lambeth. 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 lessee 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).

I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Lambeth conveyancing firm to act on my behalf?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Lease Extension case for a Lambeth property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired lease term was 56 years.

Are there frequently found deficiencies that you see in leases for Lambeth properties?

There is nothing unique about leasehold conveyancing in Lambeth. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

Other Topics

Lease Extensions in Lambeth