Experts for Leasehold Conveyancing in Foots Cray

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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Foots Cray, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Common questions relating to Foots Cray leasehold conveyancing

I would like to let out my leasehold flat in Foots Cray. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Foots Cray do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Foots Cray. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Foots Cray are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are buying in Foots Cray so you should seriously consider looking for a Foots Cray conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two flats in Foots Cray which have about 50 years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the marketability of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I work for a reputable estate agency in Foots Cray where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Foots Cray conveyancing solicitors. Could you clarify whether the owner of a flat can start the lease extension formalities 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 buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

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 buyer.

Do you have any top tips for leasehold conveyancing in Foots Cray from the perspective of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Foots Cray can be avoided if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold information needed by the buyers lawyers.
  • Many landlords or Management Companies in Foots Cray charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Foots Cray.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Foots Cray state that internal structural changes or laying down wooden flooring calls for a licence from the Landlord approving such works. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your conveyancer in advance.
  • If you have had conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge 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 better to present the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Foots Cray. Can we issue an application to the Residential Property Tribunal Service?

    You certainly can. We are happy to put you in touch with a Foots Cray conveyancing firm who can help.

    An example of a Lease Extension case for a Foots Cray premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.