I've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in New Malden. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

The majority of houses in New Malden are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in New Malden so you should seriously consider looking for a New Malden conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I own a leasehold house in New Malden. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in New Malden who previously acted has now retired.What should I do?

First contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a New Malden conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold property in New Malden. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any top tips for leasehold conveyancing in New Malden from the point of view of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in New Malden can be reduced where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? New Malden leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you fail to have the paperwork in place you should not communicate with the landlord without checking with your solicitor in advance.

Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in New Malden. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.

An example of a Lease Extension matter before the tribunal for a New Malden property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.

Are there frequently found deficiencies that you witness in leases for New Malden properties?

There is nothing unique about leasehold conveyancing in New Malden. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• 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.
• Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.

Other Topics

Lease Extensions in New Malden