Fixed-fee leasehold conveyancing in Stockwell:

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

Stockwell leasehold conveyancing: Q and A’s

I wish to let out my leasehold flat in Stockwell. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs relations between the freeholder and you the leaseholder; in particular, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Stockwell do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

There are only Sixty One years left on my flat in Stockwell. I am keen to get lease extension but my freeholder is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the lessor. For most situations a specialist should be useful to try and locate and to produce an expert document which can be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Stockwell.

I am hoping to sign contracts shortly on a basement flat in Stockwell. Conveyancing solicitors inform me that they are sending me a report on Monday. 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:

  • You should receive a copy of the lease
  • Setting out your rights in respect of common areas in the block.For instance, does the lease include a right of way over a path or hallways?
  • Are you allowed to have a pet in the flat?
  • Does the lease prevent you from renting out the property, or working from home
  • 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?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Stockwell please ask your lawyer in advance of your conveyancing in Stockwell

  • I am tempted by the attractive purchase price for a two apartments in Stockwell which have about 50 years remaining on the lease term. Do I need to be concerned?

    There are plenty of short leases in Stockwell. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

    I've recently bought a leasehold house in Stockwell. Do I have any liability for service charges relating to a period prior to completion of my purchase?

    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. Strange as it may seem, 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 ensure 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).

    After months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Stockwell. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.

    An example of a Freehold Enfranchisement matter before the tribunal for a Stockwell residence 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 unexpired lease term was 73.69 years.