Leasehold Conveyancing in Old Coulsdon - Get a Quote from the leasehold experts approved by your lender

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While any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Old Coulsdon, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Sample questions relating to Old Coulsdon leasehold conveyancing

My wife and I may need to let out our Old Coulsdon 1st floor flat temporarily due to a new job. We used a Old Coulsdon conveyancing practice in 2001 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Old Coulsdon conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is allowed. Quite often there is a prerequisite that you must seek permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of prior permission. The consent should not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Old Coulsdon. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

Most houses in Old Coulsdon are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are purchasing in Old Coulsdon in which case you should be shopping around for a Old Coulsdon conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.

I am a negotiator for a reputable estate agency in Old Coulsdon where we have experienced a number of leasehold sales derailed due to short leases. I have received inconsistent advice from local Old Coulsdon conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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.

Can you provide any top tips for leasehold conveyancing in Old Coulsdon with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Old Coulsdon can be avoided if you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
  • Many landlords or Management Companies in Old Coulsdon levy fees for providing management packs for a leasehold premises. You or your lawyers should find out 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 common cause of frustration in leasehold conveyancing in Old Coulsdon.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Old Coulsdon state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Where you dont have the approvals to hand do not communicate with the landlord without contacting your conveyancer in the first instance.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 clearly preferable to reveal the dispute as historic rather than unresolved.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • After years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Old Coulsdon. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the price.

    An example of a Freehold Enfranchisement case for a Old Coulsdon property is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case affected 3 flats. The the number of years remaining on the existing lease(s) was 75 years.

    What are the common defects that you see in leases for Old Coulsdon properties?

    Leasehold conveyancing in Old Coulsdon is not unique. Most leases is drafted differently and legal mistakes in the legal wording 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 parts of the premises
    • A duty to insure the building
    • 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 could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Coventry Building Society, and Nottingham Building Society all have express requirements 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 provide security, obliging the buyer to pull out.