Having had my offer accepted I require leasehold conveyancing in Rotherhithe. Before diving in I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% 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.

I have just appointed agents to market my ground floor apartment in Rotherhithe.Conveyancing has not commenced but I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should 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 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. This will smooth the conveyancing process.

I am tempted by the attractive purchase price for a couple of maisonettes in Rotherhithe both have about 50 years left on the lease term. should I be concerned?

There are plenty of short leases in Rotherhithe. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in Rotherhithe from the perspective of speeding up the sale process?

• A significant proportion of the delay in leasehold conveyancing in Rotherhithe can be reduced where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers.
• In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Rotherhithe state that internal structural alterations or laying down wooden flooring require a licence from the Landlord acquiescing to such changes. If you dont have the paperwork in place do not communicate with the landlord without checking with your lawyer first.
• If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and pay 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 ahead of 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 better to reveal the dispute as historic as opposed to unsettled.
• If you hold a share in a the Management Company, you should ensure that you have the original share document. Organising a new share certificate can be a lengthy formality and frustrates many a Rotherhithe home move. If a new share is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
• You believe that you know the number of years left on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer 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 as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Rotherhithe. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Most certainly. 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 property 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 number of years remaining on the existing lease(s) was 101.61 years.

What makes a Rotherhithe lease unacceptable for security purposes?

There is nothing unique about leasehold conveyancing in Rotherhithe. All leases are individual and legal mistakes in the legal wording can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the premises
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Barnsley Building Society, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Rotherhithe Leasehold Conveyancing - Examples of Queries Prior to Purchasing

What is the name of the managing agents? The answer will be helpful as a) areas may result in problems in the building as the communal areas may start to deteriorate if maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have all the details