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

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Common questions relating to New Addington leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in New Addington. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and 99.9% are in New Addington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I today plan to offer on a house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in New Addington. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in New Addington ?

Most houses in New Addington are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in New Addington so you should seriously consider looking for a New Addington conveyancing solicitor and check that they are used to dealing with 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 with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.

Back In 2008, I bought a leasehold flat in New Addington. Conveyancing and Clydesdale mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in New Addington who acted for me is not around.What should I do?

First make enquiries of HMLR to be sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a New Addington conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am attracted to a two apartments in New Addington both have about fifty years remaining on the lease term. Will this present a problem?

There are plenty of short leases in New Addington. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £225000 flat in New Addington in 8 days. The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in New Addington?

New Addington conveyancing on leasehold apartments usually necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are entitled invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it exceeds £800. The management information fee invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the invoice is technically not due. In reality you have no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.

After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in New Addington. Can we issue an application to the Residential Property Tribunal Service?

if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to make a decision on the price.

An example of a Freehold Enfranchisement case for a New Addington premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The the number of years remaining on the existing lease(s) was 78.32 years.