Fixed-fee leasehold conveyancing in South West London:

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South West London leasehold conveyancing Example Support Desk Enquiries

I have just appointed agents to market my ground floor flat in South West London.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge invoice – what should I do?

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 managing agents 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. Having a clear account will assist your cause and will leave you no worse off financially.

I am employed by a reputable estate agent office in South West London where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received inconsistent advice from local South West London conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 buyer need not have 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 at the same time as 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 buyer.

What are your top tips when it comes to appointing a South West London conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a South West London conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non South West London conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • If they are not ALEP accredited then what is the reason?
  • How many lease extensions have they completed in South West London in the last 12 months?

    • Can you provide any advice for leasehold conveyancing in South West London with the aim of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in South West London can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
    • Many landlords or managing agents in South West London charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information 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 common cause of frustration in leasehold conveyancing in South West London.
  • Some South West London leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 solicitors.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Organising a new share certificate can be a lengthy formality and delays many a South West London home move. If a duplicate share is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • We expect to complete the disposal of our £200000 maisonette in South West London next week. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in South West London?

    South West London conveyancing on leasehold maisonettes more often than not necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be willing to do so. They may charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, 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 given up trying to reach an agreement for a lease extension in South West London. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most certainly. We are happy to put you in touch with a South West London conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a South West London property is 78 & 80 Newport Road in January 2013. the Tribunal concluded that the premium to be paid by the leaseholder in respect of the freehold reversion is £23,105 This case related to 2 flats. The the unexpired residue of the current lease was 71.63 years.

    Other Topics

    Lease Extensions in South West London