Fixed-fee leasehold conveyancing in Forest Row:

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When it comes to leasehold conveyancing in Forest Row, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , Birmingham Midshires or Nationwide be sure to find a lawyer on their panel. Feel free to use our search tool

Forest Row leasehold conveyancing: Q and A’s

Back In 2001, I bought a leasehold house in Forest Row. Conveyancing and Halifax mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Forest Row who acted for me is not around.What should I do?

First contact HMLR to make sure that the individual claiming to own the freehold is in fact the new freeholder. There is no need to instruct a Forest Row conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a busy estate agency in Forest Row where we have experienced a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Forest Row conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer 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 prior to, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Can you provide any advice for leasehold conveyancing in Forest Row from the point of view of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Forest Row can be reduced where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
  • Many freeholders or managing agents in Forest Row charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Forest Row.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Forest Row leases often stipulate that internal structural alterations or installing wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you dont have the consents in place do not communicate with the landlord without contacting your solicitor first.
  • A minority of Forest Row leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 buyers or their solicitors.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • If all goes to plan we aim to complete our sale of a £375000 apartment in Forest Row in just under a week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Forest Row?

    Forest Row conveyancing on leasehold apartments often involves the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address these enquiries most will be content to do so. They are at liberty charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration charges, without which the charge is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.

    When it comes to leasehold conveyancing in Forest Row what are the most common lease problems?

    Leasehold conveyancing in Forest Row is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Royal Bank of Scotland, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

    I purchased a basement flat in Forest Row, conveyancing was carried out in 1995. How much will my lease extension cost? Corresponding flats in Forest Row with a long lease are worth £240,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease terminates on 21st October 2082

    With only 57 years unexpired the likely cost is going to span between £28,500 and £33,000 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 a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Forest Row