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

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in Cudham, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Cudham leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Cudham. Before I set the wheels in motion I want to be sure as to the remaining lease term.

If the lease is registered - and 99.9% are in Cudham - 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 am hoping to complete next month on a studio apartment in Cudham. Conveyancing solicitors have said that they report fully on Monday. What should I be looking out for?

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

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of the 80 year mark
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The total extent of the premises. This will be the flat itself but could also incorporate a loft or basement if appropriate.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be included in your report on your leasehold property in Cudham please ask your lawyer in advance of your conveyancing in Cudham

    • I am employed by a long established estate agency in Cudham where we have experienced a few flat sales derailed due to short leases. I have been given inconsistent advice from local Cudham conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension formalities for the buyer?

    As long as 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 can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

    An alternative approach is 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.

    Do you have any top tips for leasehold conveyancing in Cudham from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Cudham can be reduced if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
    • Many landlords or Management Companies in Cudham charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Cudham.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Cudham leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your lawyer in advance.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing 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 purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Arranging a new share certificate can be a lengthy process and delays many a Cudham conveyancing deal. Where a new share is required, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350000 garden flat in Cudham next week. The management company has quoted £312 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Cudham?

    Cudham conveyancing on leasehold apartments often necessitates the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be willing to do so. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is requested of you if you want to complete the sale of your home.

    I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Cudham conveyancing firm to help?

    Most definitely. We can put you in touch with a Cudham conveyancing firm who can help.

    An example of a Lease Extension case for a Cudham 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 related to 1 flat. The remaining number of years on the lease was 50.57 years.

    Other Topics

    Lease Extensions in Cudham