Leasehold Conveyancing in Tulse Hill - Get a Quote from the leasehold experts approved by your lender

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Frequently asked questions relating to Tulse Hill leasehold conveyancing

I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Tulse Hill. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Tulse Hill ?

Most houses in Tulse Hill are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are buying in Tulse Hill so you should seriously consider shopping around for a Tulse Hill conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should report to you on the legal implications.

I own a leasehold flat in Tulse Hill. Conveyancing and Alliance & Leicester mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Tulse Hill who previously acted has now retired.Do I pay?

First 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. There is no need to incur the fees of a Tulse Hill conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I work for a long established estate agent office in Tulse Hill where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Tulse Hill conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start 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 proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 purchaser.

Can you offer any advice when it comes to choosing a Tulse Hill conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a conveyancer for your lease extension (regardless if they are a Tulse Hill conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with several firms including non Tulse Hill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • If they are not ALEP accredited then why not?
  • How many lease extensions has the firm completed in Tulse Hill in the last twenty four months?

    • Can you provide any advice for leasehold conveyancing in Tulse Hill from the point of view of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Tulse Hill can be bypassed where you instruct lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers solicitors.
    • Some Tulse Hill leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly 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 actual amount of the service charge 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 resolved before the property is put on the market. The purchasers and their solicitors will be nervous about purchasing a flat where a dispute is unsettled. You may have to bite the bullet 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Organising a new share certificate is often a time consuming process and frustrates many a Tulse Hill conveyancing deal. If a new share is necessary, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’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 for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have given up negotiating a lease extension in Tulse Hill. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the LVT to judgment on the premium.

    An example of a Freehold Enfranchisement case for a Tulse Hill flat is 8 Deerbrook Road in May 2010. the Tribunal held that the enfranchisement price, in accordance with section 32 and Schedule 6 of the Leasehold Reform, Housing and Urban Development Act 1993 was £22,820, payable by the Applicants. By an order of the Lambeth County Court dated 17 June 2009 the case had been transferred to the Leasehold Valuation Tribunal for its determination of the premium payable This case was in relation to 3 flats.