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

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Frequently asked questions relating to Putney leasehold conveyancing

I am in need of some leasehold conveyancing in Putney. 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 recorded at the land registry - and most are in Putney - 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 am hoping to sign contracts shortly on a studio apartment in Putney. Conveyancing solicitors have said that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Putney should include some of the following:

  • You should receive a copy of the lease
  • Does the lease prohibit wood flooring?
  • You should be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • 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.
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be included in your report on your leasehold property in Putney please ask your solicitor in ahead of your conveyancing in Putney

  • I have just started marketing my ground floor apartment in Putney.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge demand – Do I pay up?

    The sensible thing to do is clear the invoice 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 managing agents 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.

    What are your top tips when it comes to choosing a Putney conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a solicitor for lease extension works (regardless if they are a Putney conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Putney conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

    • How many lease extensions has the firm carried out in Putney in the last 12 months?
  • What are the charges for lease extension work?

  • Do you have any top tips for leasehold conveyancing in Putney with the purpose of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Putney can be reduced if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ lawyers.
    • The majority landlords or managing agents in Putney charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Putney.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Putney state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such alterations. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Putney 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 bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.

  • I am the proprietor of a basement flat in Putney. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

    if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to calculate the price payable.

    An example of a Freehold Enfranchisement case for a Putney premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case was in relation to 3 flats. The the unexpired residue of the current lease was 66.25 years.

    Other Topics

    Lease Extensions in Putney