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

When it comes to leasehold conveyancing in Ladywell, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Find a Ladywell conveyancing lawyer with our search tool

Sample questions relating to Ladywell leasehold conveyancing

My partner and I may need to rent out our Ladywell basement flat for a while due to a career opportunity. We used a Ladywell conveyancing firm in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Ladywell conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or some other party before subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent should not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.

I am hoping to sign contracts shortly on a ground floor flat in Ladywell. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

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

  • Does the lease prevent you from letting out the flat, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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
  • Changes to the flat (alterations and additions)
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Ladywell please ask your conveyancer in ahead of your conveyancing in Ladywell

  • Do you have any advice for leasehold conveyancing in Ladywell from the point of view of speeding up the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Ladywell can be bypassed if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the buyers representatives.
    • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in Ladywell state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you fail to have the consents to hand do not contact the landlord without checking with your conveyancer in the first instance.
  • Some 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 notify your estate agents to make sure that the purchasers put in hand 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 solicitors.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share document. Obtaining a duplicate share certificate is often a time consuming formality and frustrates many a Ladywell home move. If a duplicate share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

  • If all goes to plan we aim to complete the sale of our £225000 maisonette in Ladywell in just under a week. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Ladywell?

    For the majority of leasehold sales in Ladywell conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Completing conveyancing due diligence enquiries
    • Where consent is required before sale in Ladywell
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Ladywell leasehold property is £350. For Ladywell conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

    I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Ladywell conveyancing firm to represent me?

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

    An example of a Freehold Enfranchisement decision for a Ladywell flat 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 affected 2 flats. The unexpired lease term was 74.25 years.

    What makes a Ladywell lease unacceptable for security purposes?

    Leasehold conveyancing in Ladywell is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Barnsley Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.

    Other Topics

    Lease Extensions in Ladywell