Expecting to sign contracts shortly on a ground floor flat in Nunhead. Conveyancing solicitors assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

• How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
• Does the lease prohibit wood flooring?
• Whether the lease restricts you from renting out the property, or having a home office for business
• Whether your lease has a provision for a reserve fund?
• You should have a good understanding of the insurance provisions
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

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

The sensible thing to do is pay 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 seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Nunhead. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Nunhead ?

Most houses in Nunhead are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Nunhead so you should seriously consider shopping around for a Nunhead conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.

I've recently bought a leasehold house in Nunhead. Do I have any liability for service charges relating to a period prior to completion of my purchase?

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 be sure 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).

I have had difficulty in trying to purchase the freehold in Nunhead. Can the Leasehold Valuation Tribunal adjudicate on premiums?

You certainly can. We can 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 lease term was 80.01 years.

When it comes to leasehold conveyancing in Nunhead what are the most frequent lease defects?

Leasehold conveyancing in Nunhead is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the property
• A duty to insure the building
• 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 have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the purchaser to pull out.

I am the registered owner of a 2 bed flat in Nunhead, conveyancing having been completed 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Nunhead with an extended lease are worth £247,000. The ground rent is £50 invoiced annually. The lease runs out on 21st October 2096

You have 70 years remaining on your lease the likely cost is going to span between £11,400 and £13,200 as well as costs.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.