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

Require a conveyancing quote from a solicitor for leasehold conveyancing in Petts Wood on your lender’s panel? Use our search tool to find approved local Petts Wood conveyancing lawyers or nationwide solicitors on your lender’s panel .

Sample questions relating to Petts Wood leasehold conveyancing

Harry (my fiance) and I may need to rent out our Petts Wood 1st floor flat temporarily due to a new job. We instructed a Petts Wood conveyancing practice in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Petts Wood do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

My wife and I purchased a leasehold flat in Petts Wood. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Petts Wood who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Petts Wood conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I've recently bought a leasehold flat in Petts Wood. Do I have any liability for service charges relating to a period prior to 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. 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 advice for leasehold conveyancing in Petts Wood from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Petts Wood can be bypassed where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers lawyers.
  • The majority landlords or Management Companies in Petts Wood levy fees for providing management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management pack 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 Petts Wood.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Petts Wood leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you fail to have the paperwork in place you should not communicate with the landlord without contacting your conveyancer first.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be warry about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. 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 present the dispute as over rather than unresolved.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

  • If all goes to plan we aim to complete the disposal of our £125000 flat in Petts Wood next Friday . The landlords agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Petts Wood?

    Petts Wood conveyancing on leasehold apartments often requires the buyer’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be willing to do so. They are at liberty charge a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee invoiced by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the charge is not strictly payable. In reality one has little option but to pay whatever is demanded if you want to complete the sale of your home.

    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 Petts Wood conveyancing firm to assist?

    Most definitely. We are happy to put you in touch with a Petts Wood conveyancing firm who can help.

    An example of a Lease Extension decision for a Petts Wood flat 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 residue of the current lease was 50.57 years.

    Other Topics

    Lease Extensions in Petts Wood