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

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Sample questions relating to Wandsworth leasehold conveyancing

Estate agents have just been given the go-ahead to market my garden apartment in Wandsworth.Conveyancing is yet to be initiated but I have just had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?

It best that you pay 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 managing agents 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've recently bought a leasehold property in Wandsworth. Do I have any liability for service charges for periods before my ownership?

In a situation 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 ensure 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 offer any advice when it comes to appointing a Wandsworth conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Wandsworth conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Wandsworth conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • How familiar is the firm with lease extension legislation?
  • Can they put you in touch with client in Wandsworth who can give a testimonial?

We expect to complete our sale of a £ 225000 maisonette in Wandsworth in just under a week. The landlords agents has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Wandsworth?

Wandsworth conveyancing on leasehold flats more often than not necessitates the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to these enquiries the majority will be willing to assist. They may invoice a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Following months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Wandsworth. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

An example of a Freehold Enfranchisement matter before the tribunal for a Wandsworth premises is 4 Galveston Road in August 2012. The Tribunal determined that the price payable in respect of the purchase of the freehold was £22,650. The Tribunal remited this matter back to the Wandsworth County Court for execution of the freehold Transfer Deed. This case was in relation to 2 flats.

What are the frequently found problems that you come across in leases for Wandsworth properties?

Leasehold conveyancing in Wandsworth is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

  • A provision to repair 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

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. Accord Mortgages Ltd, Coventry Building Society, and Alliance & Leicester all have express 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 pull out.

I purchased a basement flat in Wandsworth, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Wandsworth with over 90 years remaining are worth £178,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2106

You have 80 years unexpired the likely cost is going to span between £8,600 and £9,800 plus legals.

The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do 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 want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.