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Common questions relating to South Wimbledon leasehold conveyancing

I have recently realised that I have Fifty years remaining on my flat in South Wimbledon. I now want to extend my lease but my freeholder is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. In some cases an enquiry agent would be helpful to carry out a search and prepare a report to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing South Wimbledon.

I am hoping to exchange soon on a studio apartment in South Wimbledon. Conveyancing lawyers inform me that they report fully next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in South Wimbledon should include some of the following:

  • The physical extent of the property. This will be the property itself but may incorporate a loft or cellar if appropriate.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in South Wimbledon please ask your conveyancer in ahead of your conveyancing in South Wimbledon

    • Last month I purchased a leasehold house in South Wimbledon. Am I liable to pay service charges for periods before my ownership?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 South Wimbledon from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in South Wimbledon can be bypassed where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? South Wimbledon leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you dont have the paperwork to hand do not communicate with the landlord without checking with your lawyer before hand.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and pay 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share document. Obtaining a new share certificate can be a lengthy formality and slows down many a South Wimbledon conveyancing transaction. If a reissued share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • We have reached the end of our tether in trying to reach an agreement for a lease extension in South Wimbledon. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We are happy to put you in touch with a South Wimbledon conveyancing firm who can help.

    An example of a Lease Extension case for a South Wimbledon 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 number of years remaining on the existing lease(s) was 62.94 years.

    In relation to leasehold conveyancing in South Wimbledon what are the most frequent lease defects?

    There is nothing unique about leasehold conveyancing in South Wimbledon. Most leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Bank of Scotland, and Britannia all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.