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

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When it comes to leasehold conveyancing in Penge, you will need to instruct a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or Nationwide make sure you find a lawyer on their approved list. Feel free to use our search tool

Recently asked questions relating to Penge leasehold conveyancing

My partner and I may need to rent out our Penge garden flat for a while due to taking a sabbatical. We used a Penge conveyancing firm in 2002 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Your lease dictates the relationship between the freeholder and you the flat owner; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Penge do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I've recently bought a leasehold house in Penge. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation 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. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 offer any advice when it comes to appointing a Penge conveyancing firm to carry out our lease extension conveyancing?

When appointing a solicitor for your lease extension (regardless if they are a Penge conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Penge conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • How experienced is the practice with lease extension legislation?
  • Can they put you in touch with client in Penge who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Penge with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Penge can be avoided where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers conveyancers.
    • The majority freeholders or managing agents in Penge charge for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Penge.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you laid down wooden flooring? Penge leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the paperwork in place do not communicate with the landlord without contacting your lawyer in advance.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Organising a duplicate share certificate is often a time consuming process and delays many a Penge conveyancing transaction. If a new share certificate is required, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. In the circumstances it is essential 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 premises on the market for sale.

    • Following years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Penge. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Where there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the amount due.

    An example of a Lease Extension decision for a Penge flat is Flats 5, 9, 38 & 40 Blakewood Court Anerley Park in January 2012. the tribunal held that the premiums payable for the new lease sare: FLAT 5:- £7,130 FLAT 9:- £7,860 FLAT 38:- £15,867 FLAT 40: £14,834 This case related to 4 flats.

    When it comes to leasehold conveyancing in Penge what are the most common lease problems?

    Leasehold conveyancing in Penge is not unique. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Leeds Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Penge