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

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Crayford leasehold conveyancing: Q and A’s

Planning to sign contracts shortly on a studio apartment in Crayford. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Crayford should include some of the following:

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • Does the lease prevent you from renting out the flat, or working from home
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
  • What options are open to you if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Crayford please enquire of your conveyancer in ahead of your conveyancing in Crayford

  • I’m about to sell my garden apartment in Crayford.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – Do I pay up?

    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 today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Crayford. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Crayford ?

    Most houses in Crayford are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Crayford in which case you should be shopping around for a Crayford conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will appraise you on the various issues.

    Do you have any top tips for leasehold conveyancing in Crayford with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Crayford can be reduced where you appoint lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Crayford state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer first.
  • A minority of Crayford leases require Licence to Assign from the landlord. 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. The 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than ongoing.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming formality and delays many a Crayford home move. If a reissued share certificate is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.

  • We have reached the end of our tether in trying to reach an agreement for a lease extension in Crayford. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most definitely. We are happy to put you in touch with a Crayford conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Crayford premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired lease term was 76 years.

    What are the frequently found deficiencies that you see in leases for Crayford properties?

    Leasehold conveyancing in Crayford is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • 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

    You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Virgin Money, and Godiva Mortgages Ltd 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 is defective they may refuse to grant the mortgage, forcing the buyer to pull out.