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

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Whether you are buying or selling leasehold flat in South Wimbledon, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a South Wimbledon conveyancing lawyer with our search tool

Examples of recent questions relating to leasehold conveyancing in South Wimbledon

Estate agents have just been given the go-ahead to market my ground floor apartment in South Wimbledon.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should discharge the invoice 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. Having a clear account will assist your cause and will leave you no worse off financially.

I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in South Wimbledon. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

The majority of houses in South Wimbledon are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in South Wimbledon in which case you should be looking for a South Wimbledon conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

I am a negotiator for a reputable estate agent office in South Wimbledon where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have received contradictory information from local South Wimbledon conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

Can you provide any top tips for leasehold conveyancing in South Wimbledon from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in South Wimbledon can be avoided if you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors.
  • The majority freeholders or Management Companies in South Wimbledon charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in South Wimbledon.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in South Wimbledon state that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Should you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer before hand.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore essential 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 premises on the market for sale.

    • Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in South Wimbledon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We can put you in touch with a South Wimbledon conveyancing firm who can help.

    An example of a Lease Extension case for a South Wimbledon premises 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 affected 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 common lease defects?

    There is nothing unique about leasehold conveyancing in South Wimbledon. All leases are unique and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • 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

    You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.