Guaranteed fixed fees for Leasehold Conveyancing in Orpington

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When it comes to leasehold conveyancing in Orpington, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your mortgage company is to be Clydesdale , RBS or Bradford & Bingley make sure you find a lawyer on their approved list. Find a Orpington conveyancing lawyer with our search tool

Questions and Answers: 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.

Assuming the lease is registered - and 99.9% 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've found a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have subsequently found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Orpington. Conveyancing advisers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Orpington ?

Most houses in Orpington are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Orpington so you should seriously consider shopping around for a Orpington conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.

I am looking at a couple of maisonettes in Orpington which have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena

I am employed by a reputable estate agent office in Orpington where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Orpington conveyancing firms. Please can you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?

As long as 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. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. 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.

Alternatively, it may be possible 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 purchaser.

Do you have any top tips for leasehold conveyancing in Orpington with the purpose of saving time on the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Orpington can be reduced where you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers representatives.
  • The majority landlords or managing agents in Orpington charge 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 can be applied for 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 delay in leasehold conveyancing in Orpington.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Orpington leases often stipulate that internal structural alterations or installing wooden flooring require a licence from the Landlord acquiescing to such works. Where you dont have the paperwork in place do not communicate with the landlord without contacting your solicitor in advance.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Obtaining a duplicate share certificate can be a lengthy formality and delays many a Orpington conveyancing deal. Where a duplicate share is needed, you should approach the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is important at an early stage that you consider 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.

    • I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Orpington conveyancing firm to assist?

    Most definitely. We are happy to 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 was in relation to 1 flat. The the unexpired residue of the current lease was 50.57 years.

    Other Topics

    Lease Extensions in Orpington