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

Frequently asked questions relating to Bexley leasehold conveyancing

I have just started marketing my ground floor apartment in Bexley.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service charge demand – should I leave it to the buyer to sort out?

It best that you clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I work for a long established estate agent office in Bexley where we see a number of leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Bexley conveyancing firms. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has been the owner 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 buyer 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 before, or at the same time as completion of the sale.

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 offer any advice when it comes to appointing a Bexley conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Bexley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Bexley conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • What volume of lease extensions have they completed in Bexley in the last twenty four months?
  • Can they put you in touch with client in Bexley who can give a testimonial?

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

    • A significant proportion of the delay in leasehold conveyancing in Bexley can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Bexley leases often stipulate that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such works. Where you fail to have the paperwork to hand you should not communicate with the landlord without contacting your lawyer in the first instance.
  • Some Bexley leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • 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 buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and 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 particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Bexley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price.

    An example of a Lease Extension decision for a Bexley flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.

    What are the common deficiencies that you come across in leases for Bexley properties?

    Leasehold conveyancing in Bexley is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are erroneous. 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 premises
    • 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

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Other Topics

    Lease Extensions in Bexley