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

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Recently asked questions relating to Crofton Park leasehold conveyancing

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

If the lease is registered - and 99.9% are in Crofton Park - 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 want to sublet my leasehold flat in Crofton Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs relations between the landlord and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Crofton Park do not contain strict prohibition on subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I work for a busy estate agency in Crofton Park where we see a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Crofton Park conveyancing solicitors. Please can you clarify whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. 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 buyer.

Do you have any top tips for leasehold conveyancing in Crofton Park with the purpose of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Crofton Park can be bypassed if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers representatives.
  • A minority of Crofton Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share document. Organising a duplicate share certificate can be a lengthy formality and frustrates many a Crofton Park conveyancing transaction. If a new share certificate is required, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 75 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 premises on the market for sale.

  • If all goes to plan we aim to complete the sale of our £250000 garden flat in Crofton Park in just under a week. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Crofton Park?

    Crofton Park conveyancing on leasehold maisonettes ordinarily results in fees being levied by management companies :

    • Completing pre-exchange enquiries
    • Where consent is required before sale in Crofton Park
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Crofton Park leasehold premises is £350. For Crofton Park conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

    Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Crofton Park. Can we issue an application to the Residential Property Tribunal Service?

    Most certainly. We can put you in touch with a Crofton Park conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Crofton Park property is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case affected 1 flat.