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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in South Wimbledon, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to South Wimbledon leasehold conveyancing

My partner and I may need to rent out our South Wimbledon ground floor flat temporarily due to taking a sabbatical. We used a South Wimbledon conveyancing practice in 2004 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in South Wimbledon do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

Planning to exchange soon on a basement flat in South Wimbledon. Conveyancing solicitors assured me that they will have a report out to me on Monday. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the demise. This will be the flat itself but might incorporate a loft or cellar if applicable.
  • Defining your rights in relation to the communal areas in the block.E.G., does the lease grant a right of way over an accessway or hallways?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • 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. For details of the information to be contained in your report on your leasehold property in South Wimbledon please ask your conveyancer in ahead of your conveyancing in South Wimbledon

    • I am a negotiator for a long established estate agency in South Wimbledon where we have witnessed a few flat sales jeopardised due to short leases. I have received conflicting advice from local South Wimbledon conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder 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.

    Do you have any top tips for leasehold conveyancing in South Wimbledon from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in South Wimbledon can be reduced where you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in South Wimbledon levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in South Wimbledon.
  • A minority of South Wimbledon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are 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 purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a property 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 clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • We expect to complete the sale of our £125000 apartment in South Wimbledon on Wednesday in a week. The management company has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in South Wimbledon?

    South Wimbledon conveyancing on leasehold flats usually necessitates the buyer’s lawyer submitting questions for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee demanded by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to sell the property.

    I am the registered owner of a garden flat in South Wimbledon. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

    if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.

    An example of a Lease Extension decision for a South Wimbledon residence 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 unexpired term was 62.94 years.