Experts for Leasehold Conveyancing in Walham Green

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Walham Green leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Walham Green. Before I set the wheels in motion 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 Walham Green - 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.

My wife and I may need to let out our Walham Green ground floor flat for a while due to a career opportunity. We instructed a Walham Green conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

A lease governs relations between the freeholder and you the flat owner; specifically, it will say if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Walham Green do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

I have just appointed agents to market my basement apartment in Walham Green.Conveyancing has not commenced but I have just received a half-yearly service charge demand – Do I pay up?

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 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 hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Walham Green. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Walham Green ?

The majority of houses in Walham Green are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Walham Green in which case you should be looking for a Walham Green conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.

Can you provide any top tips for leasehold conveyancing in Walham Green with the aim of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Walham Green can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers.
  • Many landlords or Management Companies in Walham Green charge for providing management packs for a leasehold homes. 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 average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Walham Green.
  • Some Walham Green leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 purchasers or their solicitors.
  • If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Obtaining a new share certificate is often a lengthy process and frustrates many a Walham Green home move. Where a reissued share is required, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I invested in buying a studio flat in Walham Green, conveyancing was carried out 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Walham Green with an extended lease are worth £225,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease runs out on 21st October 2078

    With only 53 years remaining on your lease we estimate the price of your lease extension to be between £33,300 and £38,400 as well as professional fees.

    The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Walham Green