Looking forward to exchange soon on a ground floor flat in Penge. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

• The physical extent of the property. This will be the apartment itself but may incorporate a loft or cellar if applicable.
• Setting out your legal entitlements in respect of common areas in the building.E.G., does the lease provide for a right of way over a path or staircase?
• Repair and maintenance of the flat
• Changes to the flat (alterations and additions)
• 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
• What options are open to you if a neighbour breach a clause of their lease?

I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Penge. Conveyancing advisers have are about to be instructed. Will they explain the issues?

Most houses in Penge are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Penge so you should seriously consider looking for a Penge conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should report to you on the legal implications.

Last month I purchased a leasehold flat in Penge. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).

What are your top tips when it comes to finding a Penge conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Penge conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Penge conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

• How many lease extensions have they carried out in Penge in the last 12 months?
• Can they put you in touch with client in Penge who can give a testimonial?

I am the registered owner of a a ground floor purpose built flat in Penge. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?

in cases where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the amount due.

An example of a Lease Extension matter before the tribunal for a Penge residence is Flats 5, 9, 38 & 40 Blakewood Court Anerley Park in January 2012. the tribunal held that the premiums payable for the new lease sare: FLAT 5:- £7,130 FLAT 9:- £7,860 FLAT 38:- £15,867 FLAT 40: £14,834 This case related to 4 flats.

When it comes to leasehold conveyancing in Penge what are the most common lease defects?

Leasehold conveyancing in Penge is not unique. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. 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 building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease will likely 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, Coventry Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Leasehold Conveyancing in Penge - A selection of Questions you should ask before Purchasing

It would be prudent to find out as much as possible about the company managing the building as they can either make living at the property much simpler or uncomfortable. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the communal areas. Ask other people if they are happy with their management. Finally, investigate as to the dates that the service charges are due to the relevant party and precisely what you get for your money. Who manages the block?