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

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Common questions relating to Selhurst leasehold conveyancing

My wife and I may need to sub-let our Selhurst ground floor flat temporarily due to taking a sabbatical. We used a Selhurst conveyancing firm in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in Selhurst do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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.

I work for a reputable estate agency in Selhurst where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Selhurst conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to finding a Selhurst conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Selhurst conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Selhurst conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • How many lease extensions have they conducted in Selhurst in the last 12 months?
  • What are the legal fees for lease extension work?

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

    • A significant proportion of the delay in leasehold conveyancing in Selhurst can be avoided if you appoint lawyers as soon as you market your property and ask them to collate the leasehold information needed by the buyers representatives.
    • Many landlords or managing agents in Selhurst 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 information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Selhurst.
  • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Selhurst state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you fail to have the consents in place do not communicate with the landlord without checking with your solicitor in advance.
  • Some Selhurst leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to pay 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 details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled.

  • We have reached the end of our tether in seeking a lease extension in Selhurst. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most certainly. We can put you in touch with a Selhurst conveyancing firm who can help.

    An example of a Lease Extension case for a Selhurst premises is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The remaining number of years on the lease was 26.38 years.

    When it comes to leasehold conveyancing in Selhurst what are the most frequent lease defects?

    Leasehold conveyancing in Selhurst is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Selhurst