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Questions and Answers: Welling leasehold conveyancing

I am in need of some leasehold conveyancing in Welling. Before I get started I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Welling - 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.

I have recently realised that I have 72 years remaining on my flat in Welling. I am keen to get lease extension but my freeholder is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. In some cases an enquiry agent would be useful to conduct investigations and to produce an expert document to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Welling.

Planning to sign contracts shortly on a ground floor flat in Welling. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Welling should include some of the following:

  • The unexpired lease term You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Setting out your legal entitlements in respect of the communal areas in the block.By way of example, does the lease include a right of way over a path or hallways?
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • You need to be told what counts as a Nuisance in the lease
  • 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 For details of the information to be contained in your report on your leasehold property in Welling please ask your lawyer in ahead of your conveyancing in Welling

    • I am employed by a busy estate agent office in Welling where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Welling conveyancing firms. Please can you clarify whether the vendor of a flat can initiate the lease extension process for the buyer?

    Provided that the seller has been the owner 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 purchaser.

    Do you have any top tips for leasehold conveyancing in Welling with the purpose of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Welling can be bypassed where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the purchasers’ solicitors.
    • The majority landlords or managing agents in Welling levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Welling.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay 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 are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to ongoing.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Arranging a replacement share certificate can be a lengthy process and frustrates many a Welling conveyancing transaction. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential at an early stage that you identify 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 Welling. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    You certainly can. We are happy to put you in touch with a Welling conveyancing firm who can help.

    An example of a Lease Extension case for a Welling flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.

    Other Topics

    Lease Extensions in Welling