Having had my offer accepted I require leasehold conveyancing in Waterloo. 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 Waterloo - then the leasehold title will always include the short particulars 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 partner and I may need to rent out our Waterloo basement flat temporarily due to a new job. We instructed a Waterloo conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?

Your lease governs relations between the freeholder and you the leaseholder; in particular, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Waterloo do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I have just appointed agents to market my garden apartment in Waterloo.Conveyancing solicitors are to be appointed soon but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the service charge 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 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.

Back In 2008, I bought a leasehold house in Waterloo. Conveyancing and Halifax mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Waterloo who acted for me is not around.What should I do?

First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Waterloo conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a busy estate agent office in Waterloo where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Waterloo conveyancing firms. Can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Waterloo Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing

Many Waterloo leasehold flats will have a service bill for maintenance of the building invoiced by the freeholder. Where you purchase the apartment you will have to pay this amount, normally quarterly during the year. This can differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a rentcharge to be met annual, normally this is not a significant sum, say approximately £25-£75 but you need to check it because on occasion it could be many hundreds of pounds. How much is the yearly maintenance fee and ground rent? Best to be warned whether changing the roof or some other significant cost is anticipated that will be shared by the leasehold owners and could well materially increase the the service costs or necessitate a one off payment.

Other Topics

Lease Extensions in Waterloo