I am in need of some leasehold conveyancing in Sydenham. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Sydenham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Planning to exchange soon on a basement flat in Sydenham. Conveyancing solicitors inform me that they will have a report out to me tomorrow. What should I be looking out for?

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

• Defining your rights in respect of the communal areas in the building.By way of example, does the lease include a right of way over a path or hallways?
• Are you allowed to have a pet in the flat?
• 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 reserve fund?
• You should have a good understanding of the insurance provisions
• I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
• What the implications are if you breach a clause of your lease?

I've recently bought a leasehold house in Sydenham. Am I liable to pay service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee 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).

I am a negotiator for a reputable estate agency in Sydenham where we have experienced a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Sydenham conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can initiate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.

Do you have any top tips for leasehold conveyancing in Sydenham from the point of view of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Sydenham can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
• Many freeholders or managing agents in Sydenham levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Sydenham.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Sydenham leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Should you dont have the consents to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
• If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unsettled.
• You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

I am the registered owner of a second floor flat in Sydenham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?

Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to assess the sum to be paid.

An example of a Lease Extension decision for a Sydenham residence is Flat 1 4 Border Crescent in March 2012. the Tribunal decided that the sum payable by the Applicants to the Respondent in respect of the new lease for the subject property should be £11,616.00 (ElevenThousand and Six Hundred and Sixteen Pounds) This case related to 1 flat. The unexpired term was 72.04 years.

Sydenham Leasehold Conveyancing - Examples of Questions you should consider Prior to buying

Its a good idea to discover as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the cleanliness of the communal areas. Don't be afraid to ask other tenants if they are happy with their service. In conclusion, find out the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money. Is anyone aware of any major works anticipated that could add a premium to the maintenance costs? Most Sydenham leasehold apartments will be liable to pay a service bill for maintenance of the building set by the management company. Where you acquire the property you will have to meet this contribution, usually periodically accross the year. This can be anything from several hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent to be met yearly, this is usually not a exorbitant sum, say around £50-£100 but you need to check it because sometimes it can be many hundreds of pounds.