Fixed-fee leasehold conveyancing in New Eltham:

When it comes to leasehold conveyancing in New Eltham, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or NatWest be sure to choose a lawyer on their approved list. Find a New Eltham conveyancing lawyer with our search tool

Frequently asked questions relating to New Eltham leasehold conveyancing

I am on look out for some leasehold conveyancing in New Eltham. Before diving in I require certainty as to the unexpired term of the lease.

If the lease is registered - and most are in New Eltham - 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've found a house that seems to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in New Eltham. Conveyancing lawyers have not yet been appointed. Will they explain the issues?

Most houses in New Eltham are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in New Eltham in which case you should be looking for a New Eltham conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.

Last month I purchased a leasehold property in New Eltham. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

I work for a reputable estate agent office in New Eltham where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local New Eltham conveyancing firms. Could you clarify whether the seller of a flat can initiate the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to finding a New Eltham conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a New Eltham conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non New Eltham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

  • My wife and I have hit a brick wall in seeking a lease extension in New Eltham. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the price payable.

    An example of a Lease Extension case for a New Eltham premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.

    Other Topics

    Lease Extensions in New Eltham