Experts for Leasehold Conveyancing in Epsom and Ewell

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Frequently asked questions relating to Epsom and Ewell leasehold conveyancing

Frank (my husband) and I may need to let out our Epsom and Ewell 1st floor flat temporarily due to taking a sabbatical. We used a Epsom and Ewell conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your last Epsom and Ewell conveyancing solicitor is not available you can review your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission via your landlord or some other party prior to subletting. This means that you cannot sublet in the absence of first obtaining consent. The consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

Planning to exchange soon on a studio apartment in Epsom and Ewell. Conveyancing solicitors have said that they are sending me a report 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 Epsom and Ewell should include some of the following:

  • You should be sent a copy of the lease
  • You need to be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in Epsom and Ewell please enquire of your conveyancer in ahead of your conveyancing in Epsom and Ewell

    • I am tempted by the attractive purchase price for a couple of apartments in Epsom and Ewell which have approximately fifty years left on the lease term. should I be concerned?

    A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena

    I am employed by a long established estate agent office in Epsom and Ewell where we have witnessed a number of flat sales put at risk due to short leases. I have received contradictory information from local Epsom and Ewell conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser 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 has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

    Do you have any advice for leasehold conveyancing in Epsom and Ewell with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Epsom and Ewell can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
    • Many landlords or Management Companies in Epsom and Ewell levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Epsom and Ewell.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as historic rather than unsettled.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Arranging a new share certificate is often a lengthy process and frustrates many a Epsom and Ewell home move. Where a new share is required, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but you should double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Epsom and Ewell conveyancing firm to act on my behalf?

    You certainly can. We can put you in touch with a Epsom and Ewell conveyancing firm who can help.

    An example of a Lease Extension case for a Epsom and Ewell premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The remaining number of years on the lease was 60.43 years.

    Other Topics

    Lease Extensions in Epsom and Ewell