Fixed-fee leasehold conveyancing in Tolworth:

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Tolworth leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Tolworth. Before I get started I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and almost all are in Tolworth - 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.

Jane (my partner) and I may need to rent out our Tolworth ground floor flat temporarily due to a career opportunity. We instructed a Tolworth conveyancing firm in 2003 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Tolworth do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I am a negotiator for a long established estate agent office in Tolworth where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Tolworth conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension formalities 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is 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 purchaser.

Do you have any advice for leasehold conveyancing in Tolworth with the intention of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Tolworth can be bypassed if you instruct lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you laid down wooden flooring? Tolworth leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the consents to hand do not contact the landlord without contacting your lawyer in the first instance.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and delays many a Tolworth conveyancing deal. If a new share is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Tolworth conveyancing firm to help?

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

    An example of a Lease Extension matter before the tribunal for a Tolworth residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.

    When it comes to leasehold conveyancing in Tolworth what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Tolworth. Most leases are individual and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Royal Bank of Scotland, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Other Topics

    Lease Extensions in Tolworth