Leasehold Conveyancing in Kingstanding - Get a Quote from the leasehold experts approved by your lender

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

Common questions relating to Kingstanding leasehold conveyancing

My fiance and I may need to rent out our Kingstanding basement flat for a while due to a career opportunity. We used a Kingstanding conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

A small minority of properties in Kingstanding do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Kingstanding. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Kingstanding are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Kingstanding in which case you should be shopping around for a Kingstanding conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. 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 freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I am tempted by the attractive purchase price for a two flats in Kingstanding which have in the region of 50 years unexpired on the lease term. Do I need to be concerned?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

I am employed by a long established estate agency in Kingstanding where we have witnessed a few flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Kingstanding conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner 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 proposed purchaser need not have to sit tight for 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.

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.

Can you provide any top tips for leasehold conveyancing in Kingstanding from the perspective of expediting the sale process?

  • Much of the delay in leasehold conveyancing in Kingstanding can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
  • The majority landlords or Management Companies in Kingstanding charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack sought 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 usual cause of delay in leasehold conveyancing in Kingstanding.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Kingstanding leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the consents to hand you should not communicate with the landlord without checking with your conveyancer in the first instance.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a new share certificate is often a time consuming process and delays many a Kingstanding home move. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • Kingstanding Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

      Generally speaking the cost for major works tend not to be wrapped into the maintenance charges, although a few managing agents in Kingstanding require leasehold owners to pay into a sinking fund and this is used to offset against larger works. What is the name of the managing agents? What is the length of the lease?

    Other Topics

    Lease Extensions in Kingstanding