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Leasehold conveyancing in Chipstead is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Chipstead and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Chipstead leasehold conveyancing

I am on look out for some leasehold conveyancing in Chipstead. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Chipstead - then the leasehold title will always include the short particulars 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.

Looking forward to complete next month on a garden flat in Chipstead. Conveyancing solicitors have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Chipstead should include some of the following:

  • You should be sent a copy of the lease
  • Are pets allowed in the flat?
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Chipstead please ask your conveyancer in advance of your conveyancing in Chipstead

    • Back In 2009, I bought a leasehold flat in Chipstead. Conveyancing and TSB mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Chipstead who previously acted has long since retired.What should I do?

    First make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to instruct a Chipstead conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a couple of apartments in Chipstead both have in the region of 50 years remaining on the leases. should I be concerned?

    There are no two ways about it. A leasehold flat in Chipstead is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less attractive. 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 a residence 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 Chipstead 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.

    Do you have any top tips for leasehold conveyancing in Chipstead with the aim of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Chipstead can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
    • Many freeholders or managing agents in Chipstead levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Chipstead.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example installed wooden flooring? Most leases in Chipstead state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such works. Should you dont have the consents in place do not communicate with the landlord without checking with your conveyancer in advance.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve 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 better to present the dispute as over as opposed to unsettled.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Chipstead. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Most definitely. We are happy to put you in touch with a Chipstead conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Chipstead premises is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The the number of years remaining on the existing lease(s) was 75 years.

    Other Topics

    Lease Extensions in Chipstead