Leasehold Conveyancing in Nunhead - Get a Quote from the leasehold experts approved by your lender

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Sample questions relating to Nunhead leasehold conveyancing

There are only Seventy years unexpired on my lease in Nunhead. I now wish to extend my lease but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you have used your best endeavours to find the freeholder. In some cases an enquiry agent may be useful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Nunhead.

Looking forward to exchange soon on a ground floor flat in Nunhead. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Nunhead should include some of the following:

  • You should be sent a copy of the lease
  • The length of the lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • The physical extent of the property. This will be the flat itself but could also incorporate a roof space or cellar if applicable.
  • Defining your rights in relation to common areas in the block.E.G., does the lease include a right of way over an accessway or staircase?
  • Whether your lease has a provision for a sinking fund?
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide. For a comprehensive list of information to be included in your report on your leasehold property in Nunhead please ask your conveyancer in advance of your conveyancing in Nunhead

    • Estate agents have just been given the go-ahead to market my 2 bed apartment in Nunhead.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is discharge 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 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 meet my requirements, at a great figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Nunhead. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Nunhead ?

    The majority of houses in Nunhead are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Nunhead in which case you should be looking for a Nunhead conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being 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 freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will advise you fully on all the issues.

    Do you have any top tips for leasehold conveyancing in Nunhead with the aim of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Nunhead can be reduced if you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
    • The majority landlords or managing agents in Nunhead levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Nunhead.
  • A minority of Nunhead leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a re-issued share certificate can be a lengthy process and frustrates many a Nunhead conveyancing deal. Where a reissued share is needed, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Nunhead conveyancing firm to act on my behalf?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a Nunhead flat is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case related to 3 flats. The unexpired term was 80.01 years.

    Other Topics

    Lease Extensions in Nunhead