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

When it comes to leasehold conveyancing in Sanderstead, you will need to instruct a conveyancing lawyer with leasehold experience. Whether your lender is to be Clydesdale , RBS or Bradford & Bingley make sure you find a lawyer on their approved list. Feel free to use our search tool

Frequently asked questions relating to Sanderstead leasehold conveyancing

I’m about to sell my 2 bed apartment in Sanderstead.Conveyancing is yet to be initiated but I have just had a yearly service charge demand – what should I do?

It best that you discharge the invoice 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 managing agents will not acknowledge the buyer unless 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 today plan to offer on a house that appears to meet my requirements, at a reasonable price which is making it all the more appealing. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Sanderstead. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Sanderstead ?

Most houses in Sanderstead are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Sanderstead in which case you should be looking for a Sanderstead conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am attracted to a two flats in Sanderstead both have in the region of forty five years left on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Sanderstead is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive 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 premises 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 Sanderstead 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 the agreed 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 provide any advice for leasehold conveyancing in Sanderstead from the point of view of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in Sanderstead can be reduced where you get in touch lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
  • Many landlords or managing agents in Sanderstead charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Sanderstead.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Sanderstead leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord approving such changes. If you dont have the approvals in place you should not contact the landlord without checking with your solicitor in advance.
  • If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Organising a re-issued share certificate is often a time consuming process and frustrates many a Sanderstead home move. Where a reissued share is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. It is therefore 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 home on the market for sale.

  • All being well we will complete our sale of a £275000 apartment in Sanderstead in 10 days. The management company has quoted £336 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Sanderstead?

    Sanderstead conveyancing on leasehold flats typically involves administration charges levied by management companies :

    • Answering pre-contract questions
    • Where consent is required before sale in Sanderstead
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Sanderstead leasehold premises is £350. For Sanderstead conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide answers.

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

    Absolutely. We can put you in touch with a Sanderstead conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Sanderstead residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The the number of years remaining on the existing lease(s) was 78.32 years.

    Other Topics

    Lease Extensions in Sanderstead