I am on look out for some leasehold conveyancing in Purley. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Purley - 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.

I have just started marketing my basement flat in Purley.Conveyancing solicitors are to be appointed soon but I have just received a quarterly maintenance 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 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 am tempted by the attractive purchase price for a two maisonettes in Purley both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Purley. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

Do you have any advice for leasehold conveyancing in Purley from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Purley can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ representatives.
• The majority freeholders or managing agents in Purley charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Purley.
• In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Purley leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such changes. Should you dont have the paperwork in place do not communicate with the landlord without contacting your solicitor before hand.
• If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a property where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 details of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
• You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

I have had difficulty in trying to reach an agreement for a lease extension in Purley. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most certainly. We can put you in touch with a Purley conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Purley property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the fi
gure of £37,912. This case affected 6 flats. The unexpired term was 78.32 years.

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

There is nothing unique about leasehold conveyancing in Purley. All leases are individual and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Mortgage Works, and TSB all have very detailed requirements 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 grant the mortgage, forcing the purchaser to pull out.

I bought a 1st floor flat in Purley, conveyancing having been completed 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Purley with a long lease are worth £227,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2104

With just 78 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.