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When it comes to leasehold conveyancing in Ladywell, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Common questions relating to Ladywell leasehold conveyancing

I would like to rent out my leasehold apartment in Ladywell. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs relations between the freeholder and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Ladywell do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Having checked my lease I have discovered that there are only Seventy years left on my flat in Ladywell. I now want to extend my lease but my freeholder is can not be found. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the lessor. For most situations an enquiry agent would be helpful to carry out a search and prepare a report to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Ladywell.

Due to complete next month on a ground floor flat in Ladywell. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Ladywell should include some of the following:

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Defining your rights in respect of the communal areas in the building.For instance, does the lease permit a right of way over a path or hallways?
  • Whether the lease restricts you from renting out the property, or having a home office for business
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be contained in your report on your leasehold property in Ladywell please enquire of your solicitor in advance of your conveyancing in Ladywell

    • I've found a house that appears to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Ladywell. Conveyancing advisers have not yet been appointed. Will they explain the issues?

    Most houses in Ladywell are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Ladywell so you should seriously consider shopping around for a Ladywell conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor should report to you on the legal implications.

    Can you provide any top tips for leasehold conveyancing in Ladywell with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Ladywell can be avoided if you appoint lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the buyers representatives.
    • The majority landlords or managing agents in Ladywell levy fees for supplying management packs for a leasehold property. 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 usual cause of frustration in leasehold conveyancing in Ladywell.
  • A minority of Ladywell 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 will need to confirm that the buyers are 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 you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and 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 reveal the dispute as historic as opposed to ongoing.
  • You believe that you know the number of years left on your lease but it would be wise to verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have given up trying to purchase the freehold in Ladywell. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a absentee landlord 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 calculate the sum to be paid.

    An example of a Freehold Enfranchisement matter before the tribunal for a Ladywell property is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case related to 2 flats. The unexpired lease term was 74.25 years.

    Other Topics

    Lease Extensions in Ladywell