Guaranteed fixed fees for Leasehold Conveyancing in Walworth

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Top Five Questions relating to Walworth leasehold conveyancing

Planning to complete next month on a ground floor flat in Walworth. Conveyancing lawyers assured me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Walworth should include some of the following:

  • You should receive a copy of the lease
  • The total extent of the property. This will be the apartment itself but could also include a roof space or cellar if appropriate.
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For details of the information to be included in your report on your leasehold property in Walworth please enquire of your solicitor in ahead of your conveyancing in Walworth

    • I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Walworth. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

    Most houses in Walworth are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Walworth in which case you should be looking for a Walworth conveyancing solicitor and check that they have experience in advising 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 entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.

    I am employed by a long established estate agency in Walworth where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Walworth conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?

    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 buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

    An alternative approach is to agree the lease extension with the freeholder 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.

    What are your top tips when it comes to finding a Walworth conveyancing firm to carry out our lease extension conveyancing?

    When appointing a solicitor for lease extension works (regardless if they are a Walworth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Walworth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

    • If they are not ALEP accredited then why not?
  • What are the charges for lease extension work?

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

    • Much of the delay in leasehold conveyancing in Walworth can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • The majority freeholders or Management Companies in Walworth levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Walworth.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Walworth leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you fail to have the consents to hand do not contact the landlord without checking with your solicitor in advance.
  • Some Walworth leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 are supposed to have a share in the freehold, you should make sure that you hold the original share document. Arranging a re-issued share certificate can be a lengthy formality and delays many a Walworth home move. If a new share is needed, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.

    • I am the proprietor of a basement flat in Walworth. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a Walworth residence 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 affected 3 flats. The remaining number of years on the lease was 968 years.

    Other Topics

    Lease Extensions in Walworth