Top Five Questions relating to Chelsfield leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Chelsfield. Before diving in I would like to find out the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Chelsfield - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am intending to rent out my leasehold apartment in Chelsfield. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
A lease dictates relations between the landlord and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Chelsfield do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I am tempted by the attractive purchase price for a two flats in Chelsfield which have approximately fifty years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Chelsfield. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this field
What are your top tips when it comes to finding a Chelsfield conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Chelsfield conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Chelsfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How experienced is the practice with lease extension legislation?
If all goes to plan we aim to complete our sale of a £225000 maisonette in Chelsfield in 5 days. The management company has quoted £360 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Chelsfield?
Chelsfield conveyancing on leasehold maisonettes nine out of ten times necessitates fees being invoiced by freeholders :
- Completing pre-exchange questions
- Where consent is required before sale in Chelsfield
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Chelsfield. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Chelsfield conveyancing firm who can help.
An example of a Lease Extension case for a Chelsfield residence 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 term as at the valuation date was 50.57 years.