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

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

Questions and Answers: Chelsfield leasehold conveyancing

I have just started marketing my ground floor apartment in Chelsfield.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – what should I do?

Your conveyancing lawyer is likely to suggest that you should pay 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 managing agents 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. This will smooth the conveyancing process.

I own a leasehold flat in Chelsfield. Conveyancing and Nationwide Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Chelsfield who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Chelsfield conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of apartments in Chelsfield both have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

Can you offer any advice when it comes to appointing a Chelsfield conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Chelsfield conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Chelsfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • Can they put you in touch with client in Chelsfield who can give a testimonial?
  • What are the costs for lease extension work?

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

    • Much of the frustration in leasehold conveyancing in Chelsfield can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information which will be required by the buyers representatives.
    • The majority landlords or Management Companies in Chelsfield charge for supplying 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 accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Chelsfield.
  • A minority of Chelsfield leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 buyers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 purchasers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Chelsfield. Can we issue an application to the Residential Property Tribunal Service?

    Where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to judgment on the sum to be paid.

    An example of a Lease Extension decision for a Chelsfield premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The the unexpired residue of the current lease was 50.57 years.

    Other Topics

    Lease Extensions in Chelsfield