Guaranteed fixed fees for Leasehold Conveyancing in Raynes Park

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Common questions relating to Raynes Park leasehold conveyancing

I am in need of some leasehold conveyancing in Raynes Park. Before I get started I would like to find out the remaining lease term.

Assuming the lease is registered - and most are in Raynes Park - then the leasehold title will always include the short particulars 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.

Planning to sign contracts shortly on a ground floor flat in Raynes Park. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?

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

  • The total extent of the demise. This will be the flat itself but might include a loft or basement if applicable.
  • Defining your legal entitlements in respect of common areas in the building.E.G., does the lease permit a right of way over a path or hallways?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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
  • You should have a good understanding of the insurance provisions
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Raynes Park please ask your lawyer in ahead of your conveyancing in Raynes Park

    • I have just started marketing my ground floor apartment in Raynes Park.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

    The sensible thing to do is clear 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 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. This will smooth the conveyancing process.

    I've recently bought a leasehold property in Raynes Park. Am I liable to pay service charges for periods before completion of my purchase?

    In a situation 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. 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).

    I am employed by a busy estate agency in Raynes Park where we have witnessed a few flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Raynes Park conveyancing solicitors. Can you clarify whether the seller of a flat can initiate the lease extension process for the buyer?

    Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    I have given up trying to reach an agreement for a lease extension in Raynes Park. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to judgment on the price.

    An example of a Lease Extension decision for a Raynes Park flat is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The remaining number of years on the lease was 60.43 years.

    Other Topics

    Lease Extensions in Raynes Park