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

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

Examples of recent questions relating to leasehold conveyancing in New Addington

Due to sign contracts shortly on a leasehold property in New Addington. Conveyancing lawyers assured me that they report fully on Monday. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Will you be prohibited or prevented from having pets in the property?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • 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
  • Repair and maintenance of the flat For details of the information to be included in your report on your leasehold property in New Addington please enquire of your solicitor in ahead of your conveyancing in New Addington

  • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in New Addington. Conveyancing lawyers have are about to be appointed. Will they explain the issues?

    Most houses in New Addington are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in New Addington so you should seriously consider looking for a New Addington conveyancing practitioner and check that they are used to advising on leasehold houses. As a matter of priority 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 requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the house is located on an estate. Your lawyer will report to you on the legal implications.

    I've recently bought a leasehold flat in New Addington. Do I have any liability for service charges for periods before completion of my purchase?

    Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    If all goes to plan we aim to complete our sale of a £350000 garden flat in New Addington next week. The management company has quoted £336 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in New Addington?

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

    • Addressing pre-exchange questions
    • Where consent is required before sale in New Addington
    • 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 lawyer will have no control over the level of the charges for this information but the average costs for the information for New Addington leasehold property is £350. For New Addington 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 obliged to provide answers.

    I inherited a ground-floor 1950’s flat in New Addington. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

    You certainly can. We can put you in touch with a New Addington conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a New Addington residence 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 remaining number of years on the lease was 78.32 years.

    What makes a New Addington lease unmortgageable?

    Leasehold conveyancing in New Addington is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain clauses are missing. The following missing provisions could result in a defective lease:

    • A provision to repair 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

    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. Birmingham Midshires, Norwich and Peterborough Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.