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

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Recently asked questions relating to South Wimbledon leasehold conveyancing

Looking forward to complete next month on a basement flat in South Wimbledon. Conveyancing lawyers assured me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Will you be prohibited or prevented from having pets in the property?
  • You should be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Changes to the flat (alterations and additions)
  • 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 options are open to you if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in South Wimbledon please ask your lawyer in ahead of your conveyancing in South Wimbledon

    • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in South Wimbledon. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

    The majority of houses in South Wimbledon are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in South Wimbledon in which case you should be looking for a South Wimbledon conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

    Back In 2007, I bought a leasehold flat in South Wimbledon. Conveyancing and Barnsley Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in South Wimbledon who acted for me is not around.What should I do?

    First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a South Wimbledon conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Do you have any top tips for leasehold conveyancing in South Wimbledon with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in South Wimbledon can be reduced if you get in touch lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in South Wimbledon state that internal structural changes or installing wooden flooring require a licence from the Landlord approving such changes. Where you fail to have the paperwork in place you should not communicate with the landlord without contacting your lawyer in the first instance.
  • A minority of South Wimbledon leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 lawyers.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 purchasers, but it is better to present the dispute as historic as opposed to unresolved.
  • You believe that you know the number of years left on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

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

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

    An example of a Lease Extension case for a South Wimbledon flat 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 unexpired lease term was 62.94 years.

    In relation to leasehold conveyancing in South Wimbledon what are the most common lease problems?

    Leasehold conveyancing in South Wimbledon is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.