I am in need of some leasehold conveyancing in New Cross. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is registered - and most are in New Cross - 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.

What are your top tips when it comes to choosing a New Cross conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a New Cross conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non New Cross 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 useful:

• How experienced is the practice with lease extension legislation?

If the firm is not ALEP accredited then why not?

Do you have any top tips for leasehold conveyancing in New Cross with the aim of speeding up the sale process?

• Much of the frustration in leasehold conveyancing in New Cross can be avoided if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the buyers lawyers.
• Many freeholders or managing agents in New Cross charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in New Cross.

In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? New Cross leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you fail to have the approvals in place do not contact the landlord without contacting your solicitor in the first instance.

If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share certificate. Arranging a new share certificate can be a lengthy process and frustrates many a New Cross conveyancing transaction. Where a reissued share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later.

You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

All being well we will complete the disposal of our £275000 apartment in New Cross in just under a week. The managing agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in New Cross?

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

• Answering pre-contract enquiries
• Where consent is required before sale in New Cross
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for New Cross leasehold premises is £350. For New Cross 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 am the registered owner of a two-bedroom flat in New Cross. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?

Most definitely. We can put you in touch with a New Cross conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a New Cross property is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case affected 3 flats. The the number of years remaining on the existing lease(s) was 80.01 years.

In relation to leasehold conveyancing in New Cross what are the most frequent lease defects?

Leasehold conveyancing in New Cross is not unique. Most leases is drafted differently and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

• 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

You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Other Topics

Lease Extensions in New Cross