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

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West Wickham leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in West Wickham. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in West Wickham - 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 have just appointed agents to market my garden flat in West Wickham.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge demand – Do I pay up?

The sensible thing to do is discharge 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 management companies 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 am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in West Wickham. Conveyancing advisers have are about to be appointed. Will they explain the issues?

Most houses in West Wickham are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in West Wickham so you should seriously consider looking for a West Wickham conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

I am looking at a two flats in West Wickham both have about fifty years remaining on the lease term. Will this present a problem?

A lease is a right to use the property for a period of time. As a lease shortens the saleability of the lease deteriorate and results in it becoming more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in West Wickham with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in West Wickham can be avoided where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
  • Many freeholders or managing agents in West Wickham charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in West Wickham.
  • Some West Wickham leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual 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 lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Organising a duplicate share certificate is often a time consuming formality and delays many a West Wickham conveyancing transaction. If a new share is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.

    • I am the leaseholder of a ground-floor 1950’s flat in West Wickham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a West Wickham residence is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The remaining number of years on the lease was 76.75 and 88.83.

    Other Topics

    Lease Extensions in West Wickham