Quality lawyers for Leasehold Conveyancing in Lampton

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Lampton leasehold conveyancing Example Support Desk Enquiries

Having had my offer accepted I require leasehold conveyancing in Lampton. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Lampton - 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 tempted by the attractive purchase price for a two maisonettes in Lampton both have in the region of forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Lampton. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the value of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

What advice can you give us when it comes to finding a Lampton conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Lampton conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Lampton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If they are not ALEP accredited then why not?
  • How many lease extensions have they carried out in Lampton in the last year?

  • Can you provide any advice for leasehold conveyancing in Lampton from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Lampton can be avoided if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
    • The majority landlords or managing agents in Lampton charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Lampton.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Lampton state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such alterations. Should you dont have the approvals to hand do not communicate with the landlord without contacting your conveyancer first.
  • A minority of Lampton 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 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • If all goes to plan we aim to complete the sale of our £200000 flat in Lampton on Tuesday in a week. The management company has quoted £336 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Lampton?

    Lampton conveyancing on leasehold flats normally necessitates administration charges levied by managing agents :

    • Addressing pre-exchange questions
    • Where consent is required before sale in Lampton
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Lampton leasehold premises is £350. For Lampton 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.

    Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Lampton. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    You certainly can. We can put you in touch with a Lampton conveyancing firm who can help.

    An example of a Lease Extension decision for a Lampton property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 60.45 years.