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

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When it comes to leasehold conveyancing in South Wimbledon, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Yorkshire Building Society or Bradford & Bingley make sure you find a lawyer on their approved list. Find a South Wimbledon conveyancing lawyer with our search tool

Top Five Questions relating to South Wimbledon leasehold conveyancing

I am in need of some leasehold conveyancing in South Wimbledon. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in South Wimbledon - 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.

I’m about to sell my ground floor flat in South Wimbledon.Conveyancing is yet to be initiated but I have just had a quarterly maintenance charge demand – what should I do?

It best that you pay 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 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.

Last month I purchased a leasehold flat in South Wimbledon. Am I liable to pay service charges for periods before 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. It is an essential part 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).

Can you provide any advice for leasehold conveyancing in South Wimbledon with the intention of expediting the sale process?

  • Much of the delay in leasehold conveyancing in South Wimbledon can be reduced if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
  • The majority landlords or Management Companies in South Wimbledon levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in South Wimbledon.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in South Wimbledon state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. Should you dont have the paperwork in place you should not contact the landlord without checking with your lawyer first.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride 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 are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Arranging a re-issued share certificate can be a time consuming process and frustrates many a South Wimbledon conveyancing deal. If a new share certificate is required, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in South Wimbledon. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to assess the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a South Wimbledon property is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case was in relation to 1 flat. The remaining number of years on the lease was 62.94 years.

    In relation to leasehold conveyancing in South Wimbledon what are the most frequent lease defects?

    Leasehold conveyancing in South Wimbledon is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • 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

    You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Chelsea Building Society, and Platform Home Loans Ltd all have express requirements 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 provide security, obliging the buyer to withdraw.