Frequently asked questions relating to South London leasehold conveyancing
I am on look out for some leasehold conveyancing in South London. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is registered - and almost all are in South London - 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.
I am intending to rent out my leasehold apartment in South London. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your previous South London conveyancing lawyer is no longer available you can review your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you must seek consent from your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining consent. The consent must not not be unreasonably withheld. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
There are only Sixty One years left on my flat in South London. I now want to get lease extension but my freeholder is missing. What are my options?
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 mean that your lease can be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to find the freeholder. On the whole an enquiry agent would be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the application to the County Court overseeing South London.
Estate agents have just been given the go-ahead to market my garden flat in South London.Conveyancing lawyers have not yet been instructed but I have just had a quarterly service charge demand – what should I do?
It best that you clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable price 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 issues purchasing a house with a leasehold title in South London. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in South London are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in South London so you should seriously consider looking for a South London conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will appraise you on the various issues.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a South London conveyancing firm to represent me?
Absolutely. We can put you in touch with a South London conveyancing firm who can help.
An example of a Lease Extension case for a South London flat is Flat B 10 Grove Avenue in October 2013. Following a vesting order Clerkenwell and Shoreditch County Court 3rd July 2013 The tribunal determines that the premium payable for the lease extension was £36,215.00 This case related to 1 flat. The unexpired lease term was 65.21 years.
I bought a basement flat in South London, conveyancing was carried out in 2012. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in South London with an extended lease are worth £235,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease ends on 21st October 2083
You have 57 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.