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Streatham leasehold conveyancing: Q and A’s

Harry (my fiance) and I may need to rent out our Streatham 1st floor flat temporarily due to a career opportunity. We used a Streatham conveyancing practice in 2003 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Streatham do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Planning to sign contracts shortly on a garden flat in Streatham. Conveyancing solicitors have said that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • The physical extent of the property. This will be the property itself but might include a roof space or cellar if applicable.
  • Are you allowed to have a pet in the flat?
  • You should be told what constitutes a Nuisance in the lease
  • 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
  • Changes to the flat (alterations and additions)
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in Streatham please ask your solicitor in advance of your conveyancing in Streatham

    • I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Streatham. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Streatham ?

    The majority of houses in Streatham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Streatham in which case you should be looking for a Streatham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.

    Do you have any advice for leasehold conveyancing in Streatham with the purpose of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Streatham can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
    • Many landlords or Management Companies in Streatham levy fees for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Streatham.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Obtaining a replacement share certificate can be a time consuming formality and slows down many a Streatham conveyancing transaction. Where a new share certificate is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on our sale of a £325000 maisonette in Streatham in just under a week. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Streatham?

    Streatham conveyancing on leasehold flats normally requires the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to do so. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the invoice is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to sell the property.

    My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Streatham. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a absentee freeholder or where 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 Leasehold Valuation Tribunal to determine the price.

    An example of a Lease Extension case for a Streatham flat is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 23.25 years.

    Other Topics

    Lease Extensions in Streatham