Experts for Leasehold Conveyancing in Thamesmead

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

Top Five Questions relating to Thamesmead leasehold conveyancing

I am in need of some leasehold conveyancing in Thamesmead. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and most are in Thamesmead - 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.

My partner and I may need to rent out our Thamesmead basement flat for a while due to a career opportunity. We used a Thamesmead conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease governs relations between the landlord and you the flat owner; specifically, it will say 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. Most leases in Thamesmead do not prevent an absolute prevention of subletting – such a clause would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I am a negotiator for a busy estate agent office in Thamesmead where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Thamesmead conveyancing firms. Can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 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 sale.

An alternative approach is to agree the lease extension with the freeholder 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.

What are your top tips when it comes to choosing a Thamesmead conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Thamesmead conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Thamesmead conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • Can they put you in touch with client in Thamesmead who can give a testimonial?
  • What are the costs for lease extension work?

  • Completion in due on the disposal of our £125000 maisonette in Thamesmead next week. The landlords agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Thamesmead?

    Thamesmead conveyancing on leasehold maisonettes nine out of ten times results in fees being levied by managing agents :

    • Completing conveyancing due diligence questions
    • Where consent is required before sale in Thamesmead
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Thamesmead leasehold property is £350. For Thamesmead 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 required to provide the information.

    I am the leaseholder of a second floor flat in Thamesmead. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

    if there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a Thamesmead flat 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 the unexpired term as at the valuation date was 76 years.

    Other Topics

    Lease Extensions in Thamesmead