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West Wickham leasehold conveyancing: Q and A’s

I own a leasehold house in West Wickham. Conveyancing and Barnsley Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in West Wickham who acted for me is not around.Any advice?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a West Wickham conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am looking at a two maisonettes in West Wickham which have approximately fifty years unexpired on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in West Wickham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, 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 property 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 property 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 West Wickham 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 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.

I work for a long established estate agency in West Wickham where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local West Wickham conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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 buyer.

Do you have any advice for leasehold conveyancing in West Wickham from the perspective of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in West Wickham can be avoided if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the buyers conveyancers.
  • The majority landlords or Management Companies in West Wickham charge for supplying management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in West Wickham.
  • If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge 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 purchasers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Arranging a replacement share certificate is often a time consuming process and frustrates many a West Wickham conveyancing deal. If a reissued share is needed, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • If all goes to plan we aim to complete the sale of our £275000 apartment in West Wickham next week. The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in West Wickham?

    West Wickham conveyancing on leasehold maisonettes usually requires the buyer’s conveyancer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be content to assist. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. In reality you have little option but to pay whatever is demanded should you wish to sell the property.

    My wife and I have hit a brick wall in trying to purchase the freehold in West Wickham. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

    An example of a Freehold Enfranchisement case for a West Wickham flat is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case was in relation to 2 flats. The remaining number of years on the lease was 76.75 and 88.83.

    Other Topics

    Lease Extensions in West Wickham