Fixed-fee leasehold conveyancing in Mottingham:

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Questions and Answers: Mottingham leasehold conveyancing

My wife and I may need to let out our Mottingham 1st floor flat temporarily due to a new job. We used a Mottingham conveyancing firm in 2004 but they have closed and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?

Notwithstanding that your previous Mottingham conveyancing solicitor is not around you can review your lease to see if you are permitted to let out the premises. The rule is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to seek permission from your landlord or some other party in advance of subletting. The net result is you not allowed to sublet without first obtaining consent. The consent should not be unreasonably withheld. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

Estate agents have just been given the go-ahead to market my basement flat in Mottingham.Conveyancing has not commenced but I have just received a yearly service charge demand – what should I do?

It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

Can you offer any advice when it comes to appointing a Mottingham conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a Mottingham conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Mottingham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • What volume of lease extensions have they completed in Mottingham in the last 12 months?
  • What are the legal fees for lease extension work?

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

    • A significant proportion of the delay in leasehold conveyancing in Mottingham can be bypassed if you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the buyers lawyers.
    • Many landlords or managing agents in Mottingham charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Mottingham.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Obtaining a re-issued share certificate can be a time consuming formality and delays many a Mottingham conveyancing deal. Where a duplicate share certificate is required, do contact the company officers or managing agents (if relevant) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but it would be wise to double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • I own a garden flat in Mottingham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

    Most definitely. We are happy to put you in touch with a Mottingham conveyancing firm who can help.

    An example of a Lease Extension decision for a Mottingham property is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case was in relation to 1 flat. The the unexpired term as at the valuation date was 23.26 years.

    In relation to leasehold conveyancing in Mottingham what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Mottingham. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Coventry Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Mottingham