Fixed-fee leasehold conveyancing in Coulsdon:

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Questions and Answers: Coulsdon leasehold conveyancing

I am on look out for some leasehold conveyancing in Coulsdon. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and most are in Coulsdon - then the leasehold title will always include the basic details 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 today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Coulsdon. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Coulsdon are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Coulsdon in which case you should be looking for a Coulsdon conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.

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

When appointing a conveyancer for lease extension works (regardless if they are a Coulsdon conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Coulsdon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Coulsdon who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Coulsdon with the aim of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Coulsdon can be reduced if you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ lawyers.
    • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Coulsdon state that internal structural alterations or installing wooden flooring require a licence from the Landlord approving such changes. If you fail to have the consents in place you should not communicate with the landlord without checking with your solicitor in advance.
  • A minority of Coulsdon leases require Licence to Assign from the landlord. If this is the case, it would be prudent to 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 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Obtaining a re-issued share certificate is often a time consuming process and slows down many a Coulsdon home move. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

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

    if there is a absentee freeholder or if there is disagreement 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 judgment on the price payable.

    An example of a Freehold Enfranchisement decision for a Coulsdon residence is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case was in relation to 3 flats. The the number of years remaining on the existing lease(s) was 75 years.

    Are there common defects that you come across in leases for Coulsdon properties?

    There is nothing unique about leasehold conveyancing in Coulsdon. All leases are unique and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    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. National Westminster Bank, Chelsea 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 provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Coulsdon