Frequently asked questions relating to Wimbledon leasehold conveyancing
I would like to let out my leasehold flat in Wimbledon. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Notwithstanding that your previous Wimbledon conveyancing lawyer is not around you can review your lease to check if it allows you to sublet the apartment. The accepted inference is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party before subletting. The net result is you not allowed to sublet without prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you should ask your landlord if they are willing to waive this restriction.
I’m about to sell my ground floor flat in Wimbledon.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – what should I do?
The sensible thing to do is 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 management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
I am attracted to a two flats in Wimbledon both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Wimbledon. The lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area
Last month I purchased a leasehold property in Wimbledon. Do I have any liability for service charges for periods before completion of my purchase?
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. However, 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 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).
Do you have any top tips for leasehold conveyancing in Wimbledon with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Wimbledon can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers conveyancers.
- Many landlords or managing agents in Wimbledon charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Wimbledon.
After years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Wimbledon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Wimbledon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wimbledon residence is 629 Garratt Lane in September 2014. The consideration payable for the acquisition of the freehold of the subject property was the sum £21,302.74. This represented a valuation of the freehold in the sum of £23,864 from which the sum of £2561.27 has been deducted in respect of certain costs in repairing and insuring the premises This case affected 3 flats. The remaining number of years on the lease was 72.94 years.