My wife and I purchased a leasehold flat in Thornton Heath. Conveyancing and Godiva Mortgages Ltd mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Thornton Heath who acted for me is not around.Any advice?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Thornton Heath conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a couple of apartments in Thornton Heath both have about forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Thornton Heath. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this area

What are your top tips when it comes to appointing a Thornton Heath conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Thornton Heath conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Thornton Heath conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• How experienced is the firm with lease extension legislation?
• What volume of lease extensions has the firm completed in Thornton Heath in the last twenty four months?

Can you provide any advice for leasehold conveyancing in Thornton Heath from the perspective of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Thornton Heath can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers conveyancers.
• Many freeholders or managing agents in Thornton Heath charge 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 reducing delays. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Thornton Heath.
• In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Thornton Heath state that internal structural alterations or installing wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the approvals in place do not communicate with the landlord without checking with your solicitor before hand.
• A minority of Thornton Heath leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
• You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

My wife and I have hit a brick wall in trying to purchase the freehold in Thornton Heath. Can this matter be resolved via the Leasehold Valuation Tribunal?

if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the amount due.

An example of a Lease Extension decision for a Thornton Heath premises is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case related to 1 flat. The unexpired lease term was 69.46 years.

In relation to leasehold conveyancing in Thornton Heath what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Thornton Heath. All leases are individual and drafting errors can result in certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Leeds Building Society, and TSB all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.

Leasehold Conveyancing in Thornton Heath - Examples of Questions you should ask before Purchasing

Who manages the block? Most Thornton Heath leasehold properties will be liable to pay a service bill for the upkeep of the block set by the management company. Should you buy the flat you will have to pay this contribution, normally periodically throughout the year. This can vary from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a significant amount, say approximately £50-£100 but you need to enquire it because occasionally it could be many hundreds of pounds.