Fixed-fee leasehold conveyancing in Mortlake:

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

Questions and Answers: Mortlake leasehold conveyancing

I am on look out for some leasehold conveyancing in Mortlake. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Mortlake - then the leasehold title will always include the basic details 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.

Jane (my partner) and I may need to rent out our Mortlake 1st floor flat temporarily due to a career opportunity. We used a Mortlake conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Your lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Mortlake do not contain subletting altogether – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Looking forward to exchange soon on a leasehold property in Mortlake. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the demise. This will be the flat itself but may include a roof space or cellar if applicable.
  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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
  • 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 is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Mortlake please enquire of your lawyer in advance of your conveyancing in Mortlake

    • I am tempted by the attractive purchase price for a couple of apartments in Mortlake which have approximately 50 years unexpired on the lease term. Do I need to be concerned?

    A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

    Can you provide any top tips for leasehold conveyancing in Mortlake with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Mortlake can be bypassed where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors.
    • Many freeholders or Management Companies in Mortlake charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mortlake.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Mortlake leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such changes. Should you fail to have the approvals to hand do not contact the landlord without contacting your lawyer first.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be nervous about purchasing a property where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of 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 reveal the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a new share certificate is often a time consuming process and slows down many a Mortlake conveyancing deal. Where a reissued share is necessary, do contact the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • I am the proprietor of a garden flat in Mortlake. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

    Most definitely. We can put you in touch with a Mortlake conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Mortlake residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The the unexpired term as at the valuation date was 66.25 years.

    Other Topics

    Lease Extensions in Mortlake