Fixed-fee leasehold conveyancing in Cubitt Town:

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Common questions relating to Cubitt Town leasehold conveyancing

I am on look out for some leasehold conveyancing in Cubitt Town. Before I set the wheels in motion I require certainty as to the remaining lease term.

Assuming the lease is registered - and most are in Cubitt Town - 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 work for a reputable estate agency in Cubitt Town where we have witnessed a number of flat sales derailed due to short leases. I have been given conflicting advice from local Cubitt Town conveyancing firms. Please can you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have 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 simultaneously with completion of the disposal of the property.

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 purchaser.

What are your top tips when it comes to choosing a Cubitt Town conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Cubitt Town 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 Cubitt Town conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

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

    • Can you provide any top tips for leasehold conveyancing in Cubitt Town with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Cubitt Town can be avoided where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
    • The majority freeholders or managing agents in Cubitt Town levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cubitt Town.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Cubitt Town leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. If you fail to have the approvals in place do not contact the landlord without checking with your lawyer in advance.
  • Some Cubitt Town leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are 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 buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Obtaining a replacement share certificate can be a time consuming formality and slows down many a Cubitt Town conveyancing transaction. Where a new share certificate is required, do contact the company officers or managing agents (if relevant) for this sooner rather than later.

    • We expect to complete the disposal of our £325000 flat in Cubitt Town next week. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Cubitt Town?

    Cubitt Town conveyancing on leasehold maisonettes normally requires the purchaser’s solicitor submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to answer these enquiries most will be content to assist. They may levy a reasonable charge for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is £350, in some cases it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the invoice is technically not due. Reality however dictates that you have no option but to pay whatever is requested of you should you wish to exchange contracts with the buyer.

    Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Cubitt Town. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the premium.

    An example of a Freehold Enfranchisement decision for a Cubitt Town residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired lease term was 101.61 years.

    Other Topics

    Lease Extensions in Cubitt Town