I am in need of some leasehold conveyancing in Merton Park. Before I get started I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Merton Park - 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.

Due to sign contracts shortly on a ground floor flat in Merton Park. Conveyancing solicitors inform me that they report fully 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 Merton Park should include some of the following:

• The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
• Do you need to have carpet in the flat or are you allowed wood flooring?
• Will you be prohibited or prevented from having pets in the property?
• Changes to the flat (alterations and additions)
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
• The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
• What options are open to you if a neighbour breach a clause of their lease?

Estate agents have just been given the go-ahead to market my garden apartment in Merton Park.Conveyancing has not commenced but I have just received a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I've found a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Merton Park. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Merton Park are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Merton Park so you should seriously consider looking for a Merton Park conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I have given up trying to reach an agreement for a lease extension in Merton Park. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

An example of a Lease Extension matter before the tribunal for a Merton Park premises is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 62.94 years.

Are there frequently found problems that you see in leases for Merton Park properties?

There is nothing unique about leasehold conveyancing in Merton Park. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• 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 will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Merton Park Leasehold Conveyancing - Sample of Queries Prior to Purchasing

You should be aware that where the lease has fewer than 80 years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are content with the length of the lease. Leases with less than 80 years remaining means that you will probably require a lease extension at some point and it is worth finding out how much this will be. Remember, in most cases you would be required to have been the owner of the property for 24 months in order to be legally able to extend the lease.