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

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When it comes to leasehold conveyancing in Old Coulsdon, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Lloyds, Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Old Coulsdon

Having had my offer accepted I require leasehold conveyancing in Old Coulsdon. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Old Coulsdon - 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 work for a busy estate agent office in Old Coulsdon where we have experienced a number of flat sales put at risk due to short leases. I have been given inconsistent advice from local Old Coulsdon conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 buyer 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 at the same time as completion of the sale.

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.

What advice can you give us when it comes to appointing a Old Coulsdon conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a property lawyer for your lease extension (regardless if they are a Old Coulsdon conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Old Coulsdon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • How many lease extensions have they completed in Old Coulsdon in the last twenty four months?
  • Can they put you in touch with client in Old Coulsdon who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Old Coulsdon with the aim of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Old Coulsdon can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the buyers representatives.
    • The majority freeholders or Management Companies in Old Coulsdon levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Old Coulsdon.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Old Coulsdon state that internal structural alterations or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the consents to hand you should not contact the landlord without contacting your conveyancer in the first instance.
  • If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve 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 clearly preferable to reveal the dispute as historic as opposed to ongoing.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Organising a replacement share certificate is often a lengthy process and frustrates many a Old Coulsdon home move. Where a duplicate share is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • I have given up trying to purchase the freehold in Old Coulsdon. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most certainly. We are happy to put you in touch with a Old Coulsdon conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Old Coulsdon premises 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 was in relation to 3 flats. The the unexpired residue of the current lease was 75 years.

    What makes a Old Coulsdon lease problematic?

    There is nothing unique about leasehold conveyancing in Old Coulsdon. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Royal Bank of Scotland, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.