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

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in Addington, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Addington leasehold conveyancing: Q and A’s

Planning to exchange soon on a studio apartment in Addington. Conveyancing lawyers assured me that they will have a report out to me tomorrow. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • Defining your rights in respect of common areas in the block.By way of example, does the lease permit a right of way over a path or hallways?
  • Does the lease prevent you from letting out the property, or having a home office for business
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Addington please ask your conveyancer in advance of your conveyancing in Addington

    • What advice can you give us when it comes to finding a Addington conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a property lawyer for lease extension works (regardless if they are a Addington conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with two or three firms including non Addington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Addington who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Addington from the perspective of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Addington can be bypassed if you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Addington state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such alterations. Should you fail to have the approvals to hand do not contact the landlord without checking with your lawyer first.
  • Some Addington leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are 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.
  • If you have had any disputes with your landlord or managing agents it is very important that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or resolve 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 details of the dispute to the buyers, but it is better to present the dispute as over rather than unsettled.
  • If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a re-issued share certificate can be a time consuming process and frustrates many a Addington conveyancing transaction. Where a reissued share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.

    • Completion in due on the disposal of our £325000 apartment in Addington in 10 days. The management company has quoted £372 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Addington?

    Addington conveyancing on leasehold apartments often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They may levy a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, without which the charge is not strictly payable. In reality you have little choice but to pay whatever is demanded if you want to complete the sale of your home.

    I have given up negotiating a lease extension in Addington. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the price.

    An example of a Freehold Enfranchisement decision for a Addington premises is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case related to 2 flats. The remaining number of years on the lease was 76.75 and 88.83.

    What are the frequently found problems that you see in leases for Addington properties?

    Leasehold conveyancing in Addington is not unique. Most leases are individual 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:

    • A provision to repair to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Bank of Ireland 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, obliging the purchaser to pull out.