I have just started marketing my garden flat in Morden.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should clear 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 management companies 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 today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Morden. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Morden ?

Most houses in Morden are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Morden in which case you should be looking for a Morden conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should report to you on the legal implications.

I am a negotiator for a busy estate agent office in Morden where we have experienced a few leasehold sales jeopardised due to short leases. I have received conflicting advice from local Morden conveyancing solicitors. Can you confirm whether the owner of a flat can start the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any top tips for leasehold conveyancing in Morden with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Morden can be bypassed if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers representatives.
• The majority freeholders or managing agents in Morden charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent 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 necessitate a licence from the Landlord approving such changes. Where you dont have the approvals to hand you should not communicate with the landlord without checking with your solicitor in advance.
• If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming process and delays many a Morden conveyancing transaction. Where a duplicate share is necessary, do contact the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

Having spent years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Morden. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

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 affected 1 flat. The the unexpired term as at the valuation date was 62.94 years.

What are the common defects that you come across in leases for Morden properties?

There is nothing unique about leasehold conveyancing in Morden. All leases is drafted differently and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Norwich and Peterborough Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.

I own a ground floor flat in Morden, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Morden with an extended lease are worth £165,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2092

You have 66 years left to run the likely cost is going to be between £12,400 and £14,200 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.