Experts for Leasehold Conveyancing in Wapping

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Common questions relating to Wapping leasehold conveyancing

I am on look out for some leasehold conveyancing in Wapping. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and most are in Wapping - 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.

I wish to sublet my leasehold flat in Wapping. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Notwithstanding that your previous Wapping conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of prior consent. The consent is not allowed to be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I've recently bought a leasehold flat in Wapping. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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 offer any advice when it comes to appointing a Wapping conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Wapping conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Wapping conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • How many lease extensions have they conducted in Wapping in the last year?

    • Do you have any top tips for leasehold conveyancing in Wapping from the point of view of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Wapping can be reduced where you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
    • Many landlords or Management Companies in Wapping charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Wapping.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Wapping state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the approvals to hand do not communicate with the landlord without checking with your lawyer in advance.
  • Some Wapping leases require Licence to Assign from the landlord. If this is the case, 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.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is important 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 property on the market for sale.

    • I have given up seeking a lease extension in Wapping. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to calculate the amount due.

    An example of a Freehold Enfranchisement decision for a Wapping property is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The unexpired lease term was 107 years.

    Other Topics

    Lease Extensions in Wapping