Leasehold Conveyancing in Tooting Bec - Get a Quote from the leasehold experts approved by your lender

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Tooting Bec leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Tooting Bec. Before I get started I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Tooting Bec - 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.

I today plan to offer on a house that seems to be perfect, at a great figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Tooting Bec. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

Most houses in Tooting Bec are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Tooting Bec in which case you should be looking for a Tooting Bec conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.

I own a leasehold house in Tooting Bec. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Tooting Bec who previously acted has now retired.Do I pay?

The first thing you should do is contact the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Tooting Bec conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I've recently bought a leasehold property in Tooting Bec. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Do you have any advice for leasehold conveyancing in Tooting Bec from the perspective of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Tooting Bec can be avoided where you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation which will be required by the buyers conveyancers.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Tooting Bec state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such changes. Where you dont have the consents in place you should not communicate with the landlord without checking with your solicitor in the first instance.
  • A minority of Tooting Bec leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 buyers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a duplicate share certificate is often a lengthy process and frustrates many a Tooting Bec conveyancing deal. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.

    • I have had difficulty in negotiating a lease extension in Tooting Bec. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most definitely. We can put you in touch with a Tooting Bec conveyancing firm who can help.

    An example of a Lease Extension decision for a Tooting Bec property 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 was in relation to 1 flat. The unexpired term was 62.94 years.