I am on look out for some leasehold conveyancing in Thamesmead. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and most are in Thamesmead - then the leasehold title will always include the short particulars 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.

I’m about to sell my garden flat in Thamesmead.Conveyancing has not commenced but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is clear 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 management companies will not acknowledge the buyer until 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 flat in Thamesmead. Conveyancing and Nottingham Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Thamesmead who previously acted has now retired.What should I do?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Thamesmead conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of maisonettes in Thamesmead both have about 50 years unexpired on the lease term. should I be concerned?

There are no two ways about it. A leasehold apartment in Thamesmead is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the value of the property. The majority of buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Thamesmead conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you provide any top tips for leasehold conveyancing in Thamesmead from the perspective of expediting the sale process?

• Much of the delay in leasehold conveyancing in Thamesmead can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
• The majority landlords or Management Companies in Thamesmead levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. 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 delay in leasehold conveyancing in Thamesmead.

Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Thamesmead. Can we issue an application to the Residential Property Tribunal Service?

Most certainly. We can put you in touch with a Thamesmead conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Thamesmead residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term was 76 years.

Other Topics

Lease Extensions in Thamesmead