I am attracted to a two maisonettes in Wallington which have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold flat in Wallington. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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. A critical element 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).

Can you provide any top tips for leasehold conveyancing in Wallington with the aim of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Wallington can be reduced where you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
• A minority of Wallington leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
• If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved.
• If you hold a share in a the freehold, you should make sure that you have the original share certificate. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Wallington home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but you should double-check by asking your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. It is therefore essential at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

If all goes to plan we aim to complete our sale of a £ 175000 apartment in Wallington next week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Wallington?

Wallington conveyancing on leasehold maisonettes often requires the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are at liberty charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. Reality however dictates that one has little option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

I am the registered owner of a ground-floor 1950’s flat in Wallington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

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

An example of a Freehold Enfranchisement case for a Wallington residence is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case was in relation to 2 flats. The unexpired lease term was 72 years.

Are there frequently found defects that you witness in leases for Wallington properties?

Leasehold conveyancing in Wallington is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the building
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Wallington Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing

Be sure to investigate if the the lease includes any unreasonable restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Wallington. If you love the propertyin Wallington but your cat is not allowed to move with you then you will be faced difficult decision.