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

Get a Quote

When it comes to leasehold conveyancing in Walworth, you will need to chose a conveyancing lawyer with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Nationwide be sure to choose a lawyer on their approved list. Find a Walworth conveyancing lawyer with our search tool

Top Five Questions relating to Walworth leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Walworth. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Walworth - 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.

My fiance and I may need to rent out our Walworth garden flat temporarily due to a career opportunity. We instructed a Walworth conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Walworth do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I am a negotiator for a long established estate agency in Walworth where we have witnessed a number of leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local Walworth conveyancing firms. Could you confirm whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. 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 sale.

Alternatively, it may be possible 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 buyer.

Can you provide any top tips for leasehold conveyancing in Walworth from the perspective of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Walworth can be reduced where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers representatives.
  • Many freeholders or Management Companies in Walworth charge for supplying management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Walworth.
  • Some Walworth leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a new share certificate can be a lengthy formality and slows down many a Walworth conveyancing transaction. If a new share certificate is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.

    • I have had difficulty in seeking a lease extension in Walworth. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We can put you in touch with a Walworth conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Walworth flat is 28 Valmar Road in June 2013. this was a case with an absentee freeholder. As a result the leaseholders applied to the Lambeth County Court for an order dispensing with the giving of a notice of claim. On 25 April 2013 District Judge Zimmels made a vesting order and directed that the matter should be transferred to this tribunal to determine the premium. The tribunal concluded on a figure of £1,125 This case related to 3 flats. The remaining number of years on the lease was 968 years.

    Are there common deficiencies that you encounter in leases for Walworth properties?

    Leasehold conveyancing in Walworth is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    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. Nationwide Building Society, The Royal Bank of Scotland, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Walworth