You should [be sent a copy of the lease|receive a copy of the lease]

Planning to exchange soon on a basement flat in Stockwell. Conveyancing lawyers inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

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

• How long the lease is You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• Does the lease prohibit wood flooring?
• An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
• Whether your lease has a provision for a sinking fund?
• Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
• What the implications are if you breach a clause of your lease?

For details of the information to be included in your report on your leasehold property in Stockwell please enquire of your lawyer in advance of your conveyancing in Stockwell

I have just appointed agents to market my ground floor apartment in Stockwell.Conveyancing has not commenced but I have just received a quarterly service charge invoice – what should I do?

The sensible thing to do is pay 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 managing agents 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.

I own a leasehold house in Stockwell. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Stockwell who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to instruct a Stockwell conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Can you provide any advice for leasehold conveyancing in Stockwell with the aim of expediting the sale process?

• Much of the delay in leasehold conveyancing in Stockwell can be reduced if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Most leases in Stockwell state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord approving such works. Where you fail to have the consents to hand do not communicate with the landlord without contacting your conveyancer in the first instance.
• A minority of Stockwell leases require Licence to Assign from the landlord. 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 annual 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 are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a replacement share certificate is often a lengthy process and frustrates many a Stockwell conveyancing deal. If a reissued share is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
• You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is under 75 years. In the circumstances it is important 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.

All being well we will complete the sale of our £ 475000 flat in Stockwell next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Stockwell?

Stockwell conveyancing on leasehold maisonettes nine out of ten times involves administration charges invoiced by landlords agents :

• Addressing pre-exchange questions
• Where consent is required before sale in Stockwell
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Stockwell leasehold premises is £350. For Stockwell conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

I am the registered owner of a ground flat in Stockwell. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?

You certainly can. We are happy to put you in touch with a Stockwell conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Stockwell premises is 3 Tintern Street in February 2010. The tribunal had jurisdiction to make a decision on the price of the freehold of the subject premises and concluded that the premium should be £24,630.00 This case affected 2 flats. The the unexpired residue of the current lease was 73.69 years.

I bought a garden flat in Stockwell, conveyancing having been completed in 1996. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Stockwell with over 90 years remaining are worth £208,000. The ground rent is £65 invoiced annually. The lease finishes on 21st October 2085

You have 59 years remaining on your lease the likely cost is going to be between £21,900 and £25,200 as well as costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.