Having had my offer accepted I require leasehold conveyancing in Old Malden. Before I get started I would like to find out the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Old Malden - 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.

I would like to rent out my leasehold flat in Old Malden. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease dictates the relationship between the landlord and you the leaseholder; specifically, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Old Malden do not contain strict prohibition on subletting – such a clause would adversely affect the market value the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I’m about to sell my 2 bed apartment in Old Malden.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?

It best that you pay 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 unless 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. This will smooth the conveyancing process.

Last month I purchased a leasehold property in Old Malden. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

Do you have any top tips for leasehold conveyancing in Old Malden with the intention of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Old Malden can be bypassed where you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers solicitors.
• The majority freeholders or Management Companies in Old Malden levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Old Malden.
• If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Old Malden state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord approving such works. Should you dont have the paperwork to hand you should not contact the landlord without checking with your lawyer before hand.
• A minority of Old Malden 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 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
• If there is a history of any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is ongoing. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.

I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Old Malden conveyancing firm to assist?

Where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the premium.

An example of a Lease Extension matter before the tribunal for a Old Malden flat 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 was in relation to 1 flat.

Leasehold Conveyancing in Old Malden - Sample of Queries Prior to Purchasing

On the whole the cost for major works are not incorporated into the maintenance charges, although there some managing agents in Old Malden obliged tenants to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance.