Guaranteed fixed fees for Leasehold Conveyancing in Old Coulsdon

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Old Coulsdon leasehold conveyancing Example Support Desk Enquiries

I am intending to rent out my leasehold apartment in Old Coulsdon. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

A lease dictates 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. Most leases in Old Coulsdon do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Due to exchange soon on a leasehold property in Old Coulsdon. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Old Coulsdon should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • The total extent of the demise. This will be the apartment itself but could also include a loft or cellar if appropriate.
  • Setting out your legal entitlements in respect of common areas in the block.For instance, does the lease permit a right of way over an accessway or hallways?
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • Will you be prohibited or prevented from having pets in the property?
  • Whether your lease has a provision for a reserve fund?
  • You should have a good understanding of the insurance provisions For details of the information to be contained in your report on your leasehold property in Old Coulsdon please ask your solicitor in ahead of your conveyancing in Old Coulsdon

    • I am a negotiator for a long established estate agent office in Old Coulsdon where we have experienced a few leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Old Coulsdon conveyancing firms. Can you clarify whether the owner of a flat can commence 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 kick-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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.

    Alternatively, it may be possible 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 purchaser.

    Can you provide any advice for leasehold conveyancing in Old Coulsdon with the purpose of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Old Coulsdon can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ solicitors.
    • Some Old Coulsdon leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You may have to bite the bullet 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 will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a replacement share certificate is often a lengthy process and frustrates many a Old Coulsdon home move. If a new share certificate is required, you should approach the company officers or managing agents (if applicable) for this sooner rather than later.
  • You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • If all goes to plan we aim to complete our sale of a £450000 maisonette in Old Coulsdon in just under a week. The freeholder has quoted £384 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Old Coulsdon?

    Old Coulsdon conveyancing on leasehold flats normally involves the purchaser’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries the majority will be content to assist. They may invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it is in excess of £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to complete the sale of your home.

    Following months of correspondence we simply can't 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?

    if there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to arrive at the sum to be paid.

    An example of a Freehold Enfranchisement decision 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 remaining number of years on the lease was 75 years.