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Frequently asked questions relating to Teddington leasehold conveyancing

Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Teddington. I now want to get lease extension but my freeholder is can not be found. What options are available to me?

If you meet the appropriate requirements, 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 prove that you or your lawyers have made all reasonable attempts to track down the lessor. For most situations a specialist should be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Teddington.

Due to sign contracts shortly on a basement flat in Teddington. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Teddington should include some of the following:

  • Does the lease prohibit wood flooring?
  • Does the lease prevent you from letting out the flat, or having a home office for business
  • 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
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For details of the information to be included in your report on your leasehold property in Teddington please ask your solicitor in advance of your conveyancing in Teddington

    • I am tempted by the attractive purchase price for a two maisonettes in Teddington which have approximately forty five years left on the leases. should I be concerned?

    There are no two ways about it. A leasehold apartment in Teddington is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most purchasers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Teddington conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    What advice can you give us when it comes to appointing a Teddington conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for your lease extension (regardless if they are a Teddington conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Teddington conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be of use:

    • How familiar is the practice with lease extension legislation?
  • If they are not ALEP accredited then what is the reason?

    • Do you have any top tips for leasehold conveyancing in Teddington from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Teddington can be reduced if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
    • Many freeholders or Management Companies in Teddington charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Teddington.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Teddington state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you dont have the approvals in place do not communicate with the landlord without checking with your solicitor in advance.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You may need to swallow your pride and discharge any arrears of service charge or settle 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 particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I have had difficulty in trying to purchase the freehold in Teddington. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We can put you in touch with a Teddington conveyancing firm who can help.

    An example of a Lease Extension case for a Teddington 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 affected 1 flat.

    Other Topics

    Lease Extensions in Teddington