I am on look out for some leasehold conveyancing in Tulse Hill. Before diving in I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Tulse Hill - 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’m about to sell my basement flat in Tulse Hill.Conveyancing is yet to be initiated but I have just received a quarterly service charge invoice – what should I do?

It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Tulse Hill. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Tulse Hill ?

Most houses in Tulse Hill are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Tulse Hill in which case you should be looking for a Tulse Hill conveyancing solicitor 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 leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will advise you fully on all the issues.

Do you have any top tips for leasehold conveyancing in Tulse Hill from the point of view of expediting the sale process?

• Much of the delay in leasehold conveyancing in Tulse Hill can be avoided if you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers representatives.
• The majority freeholders or managing agents in Tulse Hill charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Tulse Hill.
• If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Tulse Hill state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer in advance.
• If you hold a share in a the freehold, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a lengthy formality and frustrates many a Tulse Hill conveyancing transaction. Where a duplicate share is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
• You believe that you know the number of years left on your lease but it would be wise to verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore 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.

I am the registered owner of a two-bedroom flat in Tulse Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.

An example of a Freehold Enfranchisement case for a Tulse Hill property is 8 Deerbrook Road in May 2010. the Tribunal held that the enfranchisement price, in accordance with section 32 and Schedule 6 of the Leasehold Reform, Housing and Urban Development Act 1993 was £22,820, payable by the Applicants. By an order of the Lambeth County Court dated 17 June 2009 the case had been transferred to the Leasehold Valuation Tribunal for its determination of the premium payable This case affected 3 flats.

What are the common defects that you witness in leases for Tulse Hill properties?

There is nothing unique about leasehold conveyancing in Tulse Hill. Most leases are individual and legal mistakes in the legal wording can result in certain provisions 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 premises
• 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 issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Bank of Ireland all have very detailed requirements 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 provide security, forcing the buyer to withdraw.

I invested in buying a 1 bedroom flat in Tulse Hill, conveyancing formalities finalised 4 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Tulse Hill with an extended lease are worth £210,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2078

With only 52 years remaining on your lease we estimate the price of your lease extension to span between £34,200 and £39,600 plus professional fees.

The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.