Questions and Answers: South East London leasehold conveyancing
I am on look out for some leasehold conveyancing in South East London. Before I get started I want to be sure as to the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in South East London - 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’m about to sell my garden flat in South East London.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 managing agents 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. This will smooth the conveyancing process.
What are your top tips when it comes to finding a South East London conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a South East London conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non South East London conveyancing practices prior to 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?
Do you have any advice for leasehold conveyancing in South East London from the perspective of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in South East London can be reduced where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
- In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? South East London leases often stipulate that internal structural alterations or addition of wooden flooring require a licence from the Landlord acquiescing to such alterations. Where you dont have the approvals to hand do not communicate with the landlord without contacting your solicitor first.
If all goes to plan we aim to complete our sale of a £125000 maisonette in South East London next week. The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a flat conveyance in South East London?
South East London conveyancing on leasehold flats often necessitates the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be willing to do so. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. In reality one has no option but to pay whatever is demanded if you want to sell the property.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a South East London conveyancing firm to represent me?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the price.
An example of a Freehold Enfranchisement matter before the tribunal for a South East London property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case was in relation to 1 flat. The unexpired term was 73.26 years.