Quality lawyers for Leasehold Conveyancing in Lower Morden

Get a Quote

Looking for a solicitor for leasehold conveyancing in Lower Morden on your lender’s panel? Make use of our search tool to find approved local Lower Morden conveyancing practitioners or national solicitors on your lender’s panel .

Common questions relating to Lower Morden leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Lower Morden. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Lower Morden - 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.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Lower Morden. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Lower Morden ?

Most houses in Lower Morden are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Lower Morden in which case you should be shopping around for a Lower Morden conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.

I am looking at a couple of maisonettes in Lower Morden both have approximately fifty years left on the lease term. Will this present a problem?

A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to finding a Lower Morden conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Lower Morden conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Lower Morden conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

    • Can you provide any advice for leasehold conveyancing in Lower Morden with the intention of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Lower Morden can be bypassed where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or managing agents in Lower Morden charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for 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 common cause of frustration in leasehold conveyancing in Lower Morden.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Lower Morden leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord consenting to such alterations. Where you dont have the consents in place do not contact the landlord without checking with your solicitor first.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle 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 historic rather than unresolved.
  • You believe that you know the number of years remaining on your lease but you should double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease for your property needs extending. 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 getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Lower Morden conveyancing firm to help?

    Most definitely. We are happy to put you in touch with a Lower Morden conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Lower Morden residence 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 the unexpired term as at the valuation date was 60.43 years.