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

Leasehold conveyancing in East Bedfont is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in East Bedfont and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to East Bedfont leasehold conveyancing

I've found a house that appears to be perfect, at a great price which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in East Bedfont. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in East Bedfont ?

Most houses in East Bedfont are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in East Bedfont in which case you should be looking for a East Bedfont conveyancing solicitor and check that they have experience in transacting 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 at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I am employed by a busy estate agent office in East Bedfont where we see a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local East Bedfont conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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. The benefit of this is 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 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.

Do you have any advice for leasehold conveyancing in East Bedfont with the purpose of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in East Bedfont can be reduced where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers lawyers.
  • Many landlords or Management Companies in East Bedfont levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in East Bedfont.
  • A minority of East Bedfont leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers 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 pay 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to ongoing.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • All being well we will complete the disposal of our £475000 flat in East Bedfont on Friday in a week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in East Bedfont?

    East Bedfont conveyancing on leasehold maisonettes often necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to assist. They are entitled levy a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

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

    Absolutely. We can put you in touch with a East Bedfont conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a East Bedfont flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 82.93 years.

    When it comes to leasehold conveyancing in East Bedfont what are the most frequent lease problems?

    Leasehold conveyancing in East Bedfont is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.