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Leasehold conveyancing in Forest Row 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 Forest Row and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Forest Row leasehold conveyancing: Q and A’s

I am intending to rent out my leasehold flat in Forest Row. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the freeholder and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Forest Row do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I am tempted by the attractive purchase price for a couple of apartments in Forest Row both have approximately 50 years left on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Forest Row is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and banks, leases with less than 75 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 property 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 premises 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 Forest Row conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 any new 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.

I am a negotiator for a long established estate agent office in Forest Row where we have experienced a few leasehold sales put at risk due to short leases. I have received inconsistent advice from local Forest Row conveyancing solicitors. Could you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is 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 top tips for leasehold conveyancing in Forest Row with the aim of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Forest Row can be bypassed if you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the purchasers’ lawyers.
  • Many landlords or managing agents in Forest Row charge for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Forest Row.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Forest Row leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord approving such alterations. Should you dont have the approvals in place you should not communicate with the landlord without contacting your conveyancer in the first instance.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to unsettled.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a replacement share certificate is often a lengthy formality and slows down many a Forest Row home move. If a new share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.

    • If all goes to plan we aim to complete the sale of our £125000 maisonette in Forest Row in just under a week. The management company has quoted £360 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Forest Row?

    Forest Row conveyancing on leasehold apartments more often than not involves the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer these enquiries the majority will be willing to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to exchange contracts with the buyer.

    Forest Row Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

      The answer will be useful as a) areas may cause problems for the block as the communal areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to know about it It is important to be aware whether redecorating or some other significant cost is anticipated that will be shared between the leasehold owners and will materially increase the the service fees or necessitate a specific invoice. Generally speaking the cost for major works are not included within service charges, albeit that a few managing agents in Forest Row ask tenants to pay into a sinking fund and this is used to offset against larger repairs or maintenance.

    Other Topics

    Lease Extensions in Forest Row