Fixed-fee leasehold conveyancing in Petts Wood:

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Examples of recent questions relating to leasehold conveyancing in Petts Wood

I want to let out my leasehold flat in Petts Wood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last Petts Wood conveyancing solicitor is not available you can check 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 must obtain consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet in the absence of prior permission. Such consent must not not be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I have just appointed agents to market my garden flat in Petts Wood.Conveyancing lawyers have not yet been instructed but I have just received a quarterly service charge demand – what should I do?

The sensible thing to do is clear the service charge 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 management companies will not acknowledge the buyer until 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. This will smooth the conveyancing process.

I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Petts Wood. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Petts Wood ?

The majority of houses in Petts Wood are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Petts Wood so you should seriously consider looking for a Petts Wood conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should report to you on the legal implications.

I've recently bought a leasehold flat in Petts Wood. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee 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. A critical element 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 provide any advice for leasehold conveyancing in Petts Wood with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Petts Wood can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to collate the leasehold information needed by the purchasers’ solicitors.
  • Many freeholders or Management Companies in Petts Wood charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Petts Wood.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Petts Wood leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord acquiescing to such alterations. Should you fail to have the approvals to hand you should not contact the landlord without contacting your solicitor before hand.
  • A minority of Petts Wood leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual 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 lawyers.
  • If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Organising a duplicate share certificate is often a lengthy process and slows down many a Petts Wood home move. Where a reissued share certificate is needed, do contact the company officers or managing agents (where applicable) for this as soon as possible.

    • I have had difficulty in trying to purchase the freehold in Petts Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to arrive at the premium.

    An example of a Lease Extension case for a Petts Wood residence 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 affected 1 flat. The the unexpired term as at the valuation date was 50.57 years.

    Other Topics

    Lease Extensions in Petts Wood