I have just appointed agents to market my ground floor apartment in Morden.Conveyancing lawyers have not yet been instructed but I have just had a half-yearly service charge demand – should I leave it to the buyer to sort out?

It best that you clear the invoice 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 until 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 tick a lot of boxes, at a reasonable price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Morden. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Morden ?

Most houses in Morden are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Morden in which case you should be shopping around for a Morden conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should report to you on the legal implications.

I am attracted to a two apartments in Morden both have about forty five years left on the lease term. should I be concerned?

A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and results in it becoming more expensive 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 as mortgage companies may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area

Do you have any top tips for leasehold conveyancing in Morden with the aim of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Morden can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers representatives.
• Many landlords or Management Companies in Morden charge for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Morden.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Morden state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such alterations. Where you dont have the consents to hand do not contact the landlord without checking with your conveyancer before hand.
• If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a new share certificate can be a lengthy process and frustrates many a Morden conveyancing deal. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

We expect to complete the sale of our £ 275000 flat in Morden next Monday . The managing agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Morden?

Morden conveyancing on leasehold flats normally necessitates the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to respond to such questions most will be willing to do so. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I own a basement flat in Morden. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

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

An example of a Lease Extension decision for a Morden residence 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 related to 1 flat. The remaining number of years on the lease was 62.94 years.

Leasehold Conveyancing in Morden - A selection of Questions you should ask Prior to Purchasing

Does the lease have in excess of 80 years remaining? Please tell me if there are any major works in the near future that could increase the service charges?