I am on look out for some leasehold conveyancing in Thornton Heath. Before I set the wheels in motion I require certainty as to the remaining lease term.

If the lease is registered - and most are in Thornton Heath - then the leasehold title will always include the basic details 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.

Expecting to exchange soon on a basement flat in Thornton Heath. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

• You should be sent a copy of the lease

I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Thornton Heath. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

The majority of houses in Thornton Heath are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Thornton Heath in which case you should be looking for a Thornton Heath conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

I am looking at a couple of flats in Thornton Heath both have in the region of forty five years remaining on the lease term. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Thornton Heath is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. For most purchasers and banks, leases with under 75 years become less and less marketable. On a more positive 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 Thornton Heath conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed 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.

We expect to complete the sale of our £375000 garden flat in Thornton Heath on Friday in a week. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Thornton Heath?

Thornton Heath conveyancing on leasehold maisonettes more often than not necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be content to assist. They may levy a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the charge is technically not due. In reality you have no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Thornton Heath. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to calculate the premium.

An example of a Lease Extension decision for a Thornton Heath flat is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case affected 1 flat. The remaining number of years on the lease was 69.46 years.

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Lease Extensions in Thornton Heath