Fixed-fee leasehold conveyancing in Copthorne:

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Recently asked questions relating to Copthorne leasehold conveyancing

Planning to exchange soon on a studio apartment in Copthorne. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?

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

  • The total extent of the demise. This will be the apartment itself but might include a roof space or basement if appropriate.
  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • Repair and maintenance of the flat
  • Responsibility for repairing the window frames
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Copthorne please ask your lawyer in ahead of your conveyancing in Copthorne

    • I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Copthorne. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Copthorne ?

    Most houses in Copthorne are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Copthorne so you should seriously consider looking for a Copthorne conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.

    Last month I purchased a leasehold flat in Copthorne. Do I have any liability for service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Do you have any top tips for leasehold conveyancing in Copthorne from the perspective of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Copthorne can be avoided where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Copthorne state that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such works. Where you dont have the consents to hand you should not contact the landlord without checking with your conveyancer first.
  • A minority of Copthorne 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 financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 you hold a share in a the freehold, you should ensure that you are holding the original share document. Arranging a duplicate share certificate can be a lengthy process and frustrates many a Copthorne conveyancing deal. If a new share is needed, you should approach the company officers 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 you should verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • What makes a Copthorne lease problematic?

    There is nothing unique about leasehold conveyancing in Copthorne. Most leases is drafted differently and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Skipton Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Copthorne Leasehold Conveyancing - A selection of Questions you should ask Prior to buying

      Where a Copthorne lease has fewer than 80 years it will affect the marketability of the apartment. Check with your mortgage company that they are happy with remaining years on the lease. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Copthornelease extensions you would be be obliged to have owned the residence for 24 months before you are entitled to carry out a lease extension. This question is helpful as a) areas can cause problems in the building as the common areas may start to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have full disclosure How much is the annual service fee and ground rent?

    Other Topics

    Lease Extensions in Copthorne