I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in New Malden. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?

Most houses in New Malden are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in New Malden so you should seriously consider looking for a New Malden conveyancing solicitor and check 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 lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.

I own a leasehold house in New Malden. Conveyancing and Alliance & Leicester mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in New Malden who previously acted has long since retired.Do I pay?

The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a New Malden conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am employed by a busy estate agency in New Malden where we see a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local New Malden conveyancing solicitors. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?

As long as the seller has been the owner 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

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.

Do you have any top tips for leasehold conveyancing in New Malden with the purpose of expediting the sale process?

• A significant proportion of the delay in leasehold conveyancing in New Malden can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
• Many landlords or managing agents in New Malden levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in New Malden.

Some New Malden leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their solicitors.

If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unresolved.

If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate is often a lengthy formality and slows down many a New Malden home move. If a new share certificate is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later.

We expect to complete our sale of a £125000 maisonette in New Malden next week. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in New Malden?

New Malden conveyancing on leasehold flats typically necessitates fees being levied by landlords agents :

• Addressing conveyancing due diligence enquiries
• Where consent is required before sale in New Malden
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for New Malden leasehold premises is £350. For New Malden conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a New Malden conveyancing firm to help?

Most certainly. We can put you in touch with a New Malden conveyancing firm who can help.

An example of a Lease Extension decision for a New Malden premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.

Other Topics

Lease Extensions in New Malden