Recently asked questions relating to Orpington leasehold conveyancing
I am on look out for some leasehold conveyancing in Orpington. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
If the lease is registered - and most are in Orpington - 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 would like to sublet my leasehold apartment in Orpington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Even though your last Orpington conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain permission via your landlord or some other party prior to subletting. The net result is that you cannot sublet without first obtaining permission. The consent must not not be unreasonably turned down. If your lease does not allow you to sublet you should ask your landlord for their consent.
I am attracted to a two apartments in Orpington which have about fifty years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Orpington is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of buyers and banks, 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 property 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 a residence 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 Orpington 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 You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
Can you offer any advice when it comes to finding a Orpington conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Orpington conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Orpington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then why not?
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £400000 apartment in Orpington in just under a week. The freeholder has quoted £408 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Orpington?
Orpington conveyancing on leasehold apartments normally necessitates the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to do so. They are entitled invoice a reasonable charge 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 situations it is above £800. The administration charge levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to sell the property.
After years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Orpington. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Orpington conveyancing firm who can help.
An example of a Lease Extension case for a Orpington premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired term was 50.57 years.
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