Planning to exchange soon on a leasehold property in Roehampton. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?

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

• Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease contain a right of way over an accessway or staircase?
• Does the lease prohibit wood flooring?
• Whether the lease restricts you from letting out the flat, or having a home office for business
• Ground rent - how much and when you need to pay, and also know whether this will change in the future
• You should have a good understanding of the insurance provisions
• 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 the implications are if you breach a clause of your lease?

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Roehampton. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Roehampton are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Roehampton in which case you should be looking for a Roehampton conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.

I am looking at a couple of apartments in Roehampton both have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field

I've recently bought a leasehold property in Roehampton. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation 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 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).

Following months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Roehampton. Can we issue an application to the Residential Property Tribunal Service?

Absolutely. We are happy to put you in touch with a Roehampton conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Roehampton flat 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 unexpired term was 66.25 years.

When it comes to leasehold conveyancing in Roehampton what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Roehampton. All leases are individual and drafting errors can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Clydesdale all have express 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.

Roehampton Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

If a Roehampton lease has less than 80 years it will have adverse implications on the salability of the apartment. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this would cost. For most Roehamptonlease extensions you would be be obliged to have owned the residence for two years in order to be legally able to extend the lease. For most Roehampton leaseholds the cost for major works are not incorporated into the maintenance charges, although there some managing agents in Roehampton require leaseholders to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. It is important to be aware if changing the roof or some other significant cost is due shortly that will be shared amongst the tenants and may well materially increase the the maintenance charges or require a specific payment.