Quality lawyers for Leasehold Conveyancing in Norbury

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Recently asked questions relating to Norbury leasehold conveyancing

I am on look out for some leasehold conveyancing in Norbury. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% 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.

Helen (my wife) and I may need to rent out our Norbury basement flat temporarily due to taking a sabbatical. We used a Norbury conveyancing firm in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Notwithstanding that your previous Norbury conveyancing lawyer is no longer available you can review your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you will need to ask your landlord for their consent.

I am looking at a couple of apartments in Norbury which have approximately fifty years remaining on the leases. Will this present a problem?

There are no two ways about it. A leasehold apartment in Norbury is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Norbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

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

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

What are your top tips when it comes to finding a Norbury conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Norbury conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Norbury conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • How many lease extensions has the firm completed in Norbury in the last 12 months?
  • Can they put you in touch with client in Norbury who can give a testimonial?

  • After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Norbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the premium.

    An example of a Lease Extension case 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 related to 1 flat. The the number of years remaining on the existing lease(s) was 23.25 years.

    Other Topics

    Lease Extensions in Norbury