Fixed-fee leasehold conveyancing in Walworth:

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Examples of recent questions relating to leasehold conveyancing in Walworth

I am on look out for some leasehold conveyancing in Walworth. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and almost all are in Walworth - 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.

Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Walworth. I need to extend my lease but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the landlord. For most situations a specialist may be useful to try and locate and to produce an expert document which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the application to the County Court covering Walworth.

I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Walworth. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Walworth are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Walworth so you should seriously consider looking for a Walworth conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your lawyer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two maisonettes in Walworth which have approximately 50 years left on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in Walworth with the purpose of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Walworth can be reduced where you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the buyers solicitors.
  • Many freeholders or Management Companies in Walworth charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Walworth.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Walworth leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you fail to have the approvals in place you should not contact the landlord without checking with your conveyancer in advance.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve 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 will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Organising a replacement share certificate is often a time consuming process and delays many a Walworth conveyancing transaction. If a new share certificate is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

    • Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Walworth. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the premium.

    An example of a Freehold Enfranchisement matter before the tribunal for a Walworth property 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 was in relation to 3 flats. The remaining number of years on the lease was 968 years.

    Other Topics

    Lease Extensions in Walworth