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

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Sample questions relating to Lower Morden leasehold conveyancing

I want to rent out my leasehold flat in Lower Morden. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Some leases for properties in Lower Morden do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

There are only 62 years left on my lease in Lower Morden. I now wish to get lease extension but my freeholder is absent. What are my options?

On the basis that you qualify, 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 mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Lower Morden.

I am attracted to a two apartments in Lower Morden both have approximately forty five years unexpired on the lease term. Do I need to be concerned?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

Can you provide any top tips for leasehold conveyancing in Lower Morden with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Lower Morden can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Lower Morden leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such changes. Should you fail to have the paperwork to hand do not communicate with the landlord without contacting your solicitor in advance.
  • Some Lower Morden leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a lengthy formality and delays many a Lower Morden conveyancing transaction. Where a reissued share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • We expect to complete the disposal of our £200000 flat in Lower Morden in 10 days. The managing agents has quoted £324 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Lower Morden?

    Lower Morden conveyancing on leasehold maisonettes normally necessitates the buyer’s solicitor submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be content to do so. They are at liberty invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, without which 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 sell the property.

    I am the registered owner of a two-bedroom flat in Lower Morden. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

    Absolutely. We can put you in touch with a Lower Morden conveyancing firm who can help.

    An example of a Lease Extension case for a Lower Morden flat is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The remaining number of years on the lease was 60.43 years.