Experts for Leasehold Conveyancing in New Eltham

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

Frequently asked questions relating to New Eltham leasehold conveyancing

I am intending to sublet my leasehold apartment in New Eltham. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

The lease governs relations between the landlord and you the flat owner; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in New Eltham do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in New Eltham. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in New Eltham ?

The majority of houses in New Eltham are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note 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. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.

Back In 2005, I bought a leasehold flat in New Eltham. Conveyancing and The Royal Bank of Scotland mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in New Eltham who acted for me is not around.Do I pay?

First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a New Eltham conveyancing firm 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 legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

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

When appointing a property lawyer for lease extension works (regardless if they are a New Eltham conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise 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 might be of use:

  • Can they put you in touch with client in New Eltham who can give a testimonial?
  • What are the costs for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in New Eltham with the intention of expediting the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in New Eltham can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
    • The majority freeholders or managing agents in New Eltham charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have 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 reason for delay in leasehold conveyancing in New Eltham.
  • Some New Eltham leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where a dispute is unsettled. You may need to swallow your pride and pay 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 details of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you hold a share in a the Management Company, you should ensure that you are holding the original share document. Organising a re-issued share certificate is often a lengthy formality and frustrates many a New Eltham conveyancing deal. Where a reissued share certificate is required, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • I am the proprietor of a basement flat in New Eltham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

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

    An example of a Lease Extension matter before the tribunal for a New Eltham property 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