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Top Five Questions relating to Worcester Park leasehold conveyancing

I am hoping to complete next month on a garden flat in Worcester Park. Conveyancing lawyers have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • You should receive a copy of the lease
  • The length of the 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
  • Setting out your legal entitlements in relation to the communal areas in the block.By way of example, does the lease contain a right of way over a path or staircase?
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Worcester Park please ask your conveyancer in advance of your conveyancing in Worcester Park

    • I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Worcester Park. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Worcester Park ?

    Most houses in Worcester Park are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. We note that you are buying in Worcester Park so you should seriously consider shopping around for a Worcester Park conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer should report to you on the legal implications.

    I am attracted to a couple of maisonettes in Worcester Park which have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional help from a conveyancer and surveyor with experience in this field

    What are your top tips when it comes to choosing a Worcester Park conveyancing practice to deal with our lease extension?

    If you are instructing a solicitor for lease extension works (regardless if they are a Worcester Park conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Worcester Park conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:

    • If they are not ALEP accredited then why not?
  • What volume of lease extensions has the firm conducted in Worcester Park in the last 12 months?

    • Can you provide any top tips for leasehold conveyancing in Worcester Park from the perspective of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Worcester Park can be avoided if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers solicitors.
    • Many freeholders or managing agents in Worcester Park levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought 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 common reason for delay in leasehold conveyancing in Worcester Park.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. 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 purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and slows down many a Worcester Park conveyancing deal. If a duplicate share certificate is required, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Worcester Park. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to decide the price payable.

    An example of a Lease Extension decision for a Worcester Park property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 60.43 years.

    Other Topics

    Lease Extensions in Worcester Park