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

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Anerley, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Anerley leasehold conveyancing

My husband and I may need to let out our Anerley basement flat for a while due to a new job. We instructed a Anerley conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease governs relations between the landlord and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Anerley do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.

I am tempted by the attractive purchase price for a two maisonettes in Anerley which have in the region of fifty years remaining on the leases. Do I need to be concerned?

There is no doubt about it. A leasehold flat in Anerley is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most buyers and mortgage companies, leases with under 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 a residence 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 Anerley 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.

Last month I purchased a leasehold flat in Anerley. Do I have any liability for service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £150000 garden flat in Anerley in just under a week. The managing agents has quoted £324 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Anerley?

Anerley conveyancing on leasehold flats normally necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be willing to do so. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is not strictly payable. In reality one has no choice but to pay whatever is demanded if you want to sell the property.

I have had difficulty in trying to purchase the freehold in Anerley. Can the Leasehold Valuation Tribunal adjudicate on premiums?

in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the price.

An example of a Lease Extension decision for a Anerley residence is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The unexpired lease term was 26.38 years.

Are there frequently found problems that you see in leases for Anerley properties?

There is nothing unique about leasehold conveyancing in Anerley. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain parts of the property
  • A duty to insure the building
  • A provision for the recovery of money spent for the benefit of another party.
  • Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Skipton Building Society, and Bank of Ireland all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to pull out.

Other Topics

Lease Extensions in Anerley