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Examples of recent questions relating to leasehold conveyancing in Merton Park

Harry (my fiance) and I may need to sub-let our Merton Park basement flat for a while due to a new job. We instructed a Merton Park conveyancing firm in 2002 but they have closed and we did not think at the time get any guidance as to whether the lease allows us to sublet. How do we find out?

Some leases for properties in Merton Park do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Last month I purchased a leasehold property in Merton Park. Am I liable to pay service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to choosing a Merton Park conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Merton Park conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Merton Park conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Merton Park from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Merton Park can be bypassed where you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
    • Many landlords or Management Companies in Merton Park charge for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. 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 Merton Park.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Merton Park state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you fail to have the paperwork in place do not communicate with the landlord without contacting your conveyancer first.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 better to present the dispute as historic rather than unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the leaseholder of a first flat in Merton Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

    Most definitely. We can put you in touch with a Merton Park conveyancing firm who can help.

    An example of a Lease Extension case for a Merton Park property is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case affected 1 flat. The the unexpired residue of the current lease was 62.94 years.

    What are the common problems that you encounter in leases for Merton Park properties?

    There is nothing unique about leasehold conveyancing in Merton Park. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and Aldermore all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Merton Park