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Questions and Answers: Rotherhithe leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Rotherhithe. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Rotherhithe - 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.

Due to sign contracts shortly on a basement flat in Rotherhithe. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • The length of the lease term You should be advised as what happens when the lease ends, and aware of the importance of the 80 year mark
  • The physical extent of the property. This will be the property itself but could also incorporate a roof space or cellar if applicable.
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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
  • What you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Rotherhithe please ask your conveyancer in ahead of your conveyancing in Rotherhithe

  • What advice can you give us when it comes to choosing a Rotherhithe conveyancing practice to deal with our lease extension?

    When appointing a solicitor for lease extension works (regardless if they are a Rotherhithe conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Rotherhithe conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:

    • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Rotherhithe who can give a testimonial?

  • Can you provide any top tips for leasehold conveyancing in Rotherhithe from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Rotherhithe can be avoided where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Rotherhithe leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the consents in place you should not contact the landlord without contacting your lawyer before hand.
  • A minority of Rotherhithe leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a time consuming process and delays many a Rotherhithe conveyancing deal. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350000 garden flat in Rotherhithe in six days. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Rotherhithe?

    Rotherhithe conveyancing on leasehold maisonettes nine out of ten times involves administration charges raised by freeholders :

    • Addressing conveyancing due diligence questions
    • Where consent is required before sale in Rotherhithe
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Rotherhithe leasehold premises is £350. For Rotherhithe conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

    Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Rotherhithe. Can we issue an application to the Residential Property Tribunal Service?

    Most definitely. We are happy to put you in touch with a Rotherhithe conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Rotherhithe residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The the unexpired term as at the valuation date was 101.61 years.