Fixed-fee leasehold conveyancing in Old Malden:

When it comes to leasehold conveyancing in Old Malden, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your lender is to be Lloyds, Yorkshire Building Society or Nationwide be sure to find a lawyer on their panel. Feel free to use our search tool

Examples of recent questions relating to leasehold conveyancing in Old Malden

My partner and I may need to sub-let our Old Malden 1st floor flat for a while due to taking a sabbatical. We instructed a Old Malden conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last Old Malden conveyancing lawyer is no longer around you can check your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party prior to subletting. The net result is that you cannot sublet in the absence of prior permission. The consent is not allowed to be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I have just started marketing my 2 bed apartment in Old Malden.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – Do I pay up?

It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

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

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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).

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

  • Much of the frustration in leasehold conveyancing in Old Malden can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the buyers lawyers.
  • The majority landlords or managing agents in Old Malden levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Old Malden.
  • A minority of Old Malden 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. Any 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • 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 marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay 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 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 better to reveal the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

  • We expect to complete the disposal of our £150000 maisonette in Old Malden on Thursday in a week. The managing agents has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Old Malden?

    For the majority of leasehold sales in Old Malden conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    • Answering conveyancing due diligence enquiries
    • Where consent is required before sale in Old Malden
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Old Malden leasehold premises is £350. For Old Malden conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply answers.

    I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Old Malden conveyancing firm to help?

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

    An example of a Lease Extension matter before the tribunal for a Old Malden flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.