I am on look out for some leasehold conveyancing in Tooting. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Tooting - 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 am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Tooting. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

The majority of houses in Tooting are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Tooting in which case you should be shopping around for a Tooting conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will advise you fully on all the issues.

I am tempted by the attractive purchase price for a couple of apartments in Tooting both have approximately forty five years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Tooting. The lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area

What advice can you give us when it comes to choosing a Tooting conveyancing firm to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Tooting conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Tooting conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• If the firm is not ALEP accredited then why not?

I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Tooting conveyancing firm to act on my behalf?

if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to calculate the amount due.

An example of a Lease Extension matter before the tribunal for a Tooting residence is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case related to 1 flat. The the unexpired term as at the valuation date was 62.94 years.

Are there frequently found defects that you see in leases for Tooting properties?

There is nothing unique about leasehold conveyancing in Tooting. Most leases is drafted differently and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Bank of Scotland, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to withdraw.

Other Topics

Lease Extensions in Tooting