I have been told that property searches are the primary reason for hinderance in South West London house deals. Is that correct?

The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in South West London.

Me and my brother have a 4 bedroom Edwardian property in South West London. Conveyancing solicitor acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??

You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South West London and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who completed the work.

I am looking for a leasehold apartment up to £245,000 and identified one near me in South West London I like with open areas and station in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in South West London in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

Should you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.

I am tempted by the attractive purchase price for a two apartments in South West London both have about fifty years left on the lease term. Will this present a problem?

A lease is a legal document that entitles you to use the property for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.

I have given up trying to purchase the freehold in South West London. Can this matter be resolved via the Leasehold Valuation Tribunal?

Most certainly. We are happy to put you in touch with a South West London conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a South West London premises is 78 & 80 Newport Road in January 2013. the Tribunal concluded that the premium to be paid by the leaseholder in respect of the freehold reversion is £23,105 This case was in relation to 2 flats. The unexpired residue of the current lease was 71.63 years.

My solicitors in South West London have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?

Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.