Fixed-fee leasehold conveyancing in Morden:

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Morden, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Top Five Questions relating to Morden leasehold conveyancing

Planning to exchange soon on a basement flat in Morden. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Morden should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • 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 the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Morden please enquire of your lawyer in ahead of your conveyancing in Morden

    • I have just started marketing my basement apartment in Morden.Conveyancing has not commenced but I have just had a yearly service charge invoice – Do I pay up?

    It best that you discharge 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 management companies 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 am tempted by the attractive purchase price for a couple of maisonettes in Morden which have approximately 50 years remaining on the lease term. Will this present a problem?

    There are plenty of short leases in Morden. The lease is a right to use the property for a period of time. As a lease shortens the value of the lease deteriorate and results in it becoming more costly to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field

    What are your top tips when it comes to finding a Morden conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for your lease extension (regardless if they are a Morden conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Morden conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

    • What volume of lease extensions has the firm conducted in Morden in the last 12 months?
  • Can they put you in touch with client in Morden who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Morden from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Morden can be bypassed if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • The majority landlords or Management Companies in Morden charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Morden.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Morden leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Where you dont have the approvals to hand do not communicate with the landlord without contacting your lawyer in the first instance.
  • A minority of Morden leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a replacement share certificate is often a time consuming process and slows down many a Morden home move. Where a duplicate share certificate is required, do contact the company officers or managing agents (where applicable) for this as soon as possible.

    • I am the leaseholder of a ground-floor 1960’s flat in 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?

    Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a Morden flat 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 unexpired lease term was 62.94 years.

    Other Topics

    Lease Extensions in Morden