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

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Sample questions relating to Sanderstead leasehold conveyancing

There are only Fifty years left on my lease in Sanderstead. I now wish to get lease extension but my landlord is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to find the lessor. For most situations an enquiry agent would be helpful to try and locate and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Sanderstead.

You should [be sent a copy of the lease|receive a copy of the lease]

I am hoping to exchange soon on a leasehold property in Sanderstead. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?

Your report on title for your leasehold conveyancing in Sanderstead should include some of the following:

  • Does the lease prohibit wood flooring?
  • Are you allowed to have a pet in the flat?
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
For a comprehensive list of information to be contained in your report on your leasehold property in Sanderstead please enquire of your lawyer in advance of your conveyancing in Sanderstead

Do you have any top tips for leasehold conveyancing in Sanderstead from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Sanderstead can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
  • A minority of Sanderstead leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unresolved.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a re-issued share certificate is often a lengthy process and slows down many a Sanderstead home move. If a reissued share certificate 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 left on your lease but it would be advisable verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise 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 identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

We expect to complete our sale of a £ 150000 flat in Sanderstead in just under a week. The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Sanderstead?

For the majority of leasehold sales in Sanderstead conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

  • Answering pre-exchange questions
  • Where consent is required before sale in Sanderstead
  • Copies of the building insurance and schedule
  • Deeds of covenant upon sale
  • Registering of the assignment of the change of lessee after a sale
Your solicitor 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 obliged to provide answers.

After months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Sanderstead. Can we issue an application to the Residential Property Tribunal Service?

if there is a absentee landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to calculate the sum to be paid.

An example of a Freehold Enfranchisement matter before the tribunal for a Sanderstead premises 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 unexpired lease term was 78.32 years.

In relation to leasehold conveyancing in Sanderstead what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Sanderstead. All leases is drafted differently and drafting errors can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain parts of the property
  • Insurance obligations
  • Clauses dealing with recovering service charges for expenditure on the building or common parts.
  • Maintenance charge proportions which don’t add up to the correct percentage

You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.

I inherited a garden flat in Sanderstead, conveyancing having been completed 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Sanderstead with over 90 years remaining are worth £185,000. The ground rent is £60 yearly. The lease finishes on 21st October 2098

You have 72 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.