Guaranteed fixed fees for Leasehold Conveyancing in Norbury

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When it comes to leasehold conveyancing in Norbury, you will need to chose a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Halifax, RBS or Bradford & Bingley be sure to find a lawyer on their approved list. Feel free to use our search tool

Norbury leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Norbury. Before I get started I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and almost all are in Norbury - 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 am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Norbury. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Norbury ?

The majority of houses in Norbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Norbury in which case you should be looking for a Norbury conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

I am employed by a busy estate agent office in Norbury where we see a number of leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Norbury conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.

An alternative approach is 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 buyer.

Do you have any advice for leasehold conveyancing in Norbury from the perspective of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Norbury can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority landlords or Management Companies in Norbury levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Norbury.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Norbury state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Where you fail to have the paperwork in place you should not contact the landlord without contacting your conveyancer first.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. 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 ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but you should verify this by asking your conveyancers. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Norbury conveyancing firm to assist?

    Most certainly. We can put you in touch with a Norbury conveyancing firm who can help.

    An example of a Lease Extension decision for a Norbury property is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case affected 1 flat. The the number of years remaining on the existing lease(s) was 23.25 years.

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

    There is nothing unique about leasehold conveyancing in Norbury. All leases is drafted differently and drafting errors can sometimes mean that certain sections are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • 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 can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Norbury