I am in need of some leasehold conveyancing in Sidcup. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and almost all are in Sidcup - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I only have 62 years remaining on my flat in Sidcup. I now wish to extend my lease but my freeholder is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. For most situations a specialist would be useful to try and locate and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Sidcup.

I am tempted by the attractive purchase price for a two apartments in Sidcup which have approximately 50 years unexpired on the lease term. should I be concerned?

There are plenty of short leases in Sidcup. The lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena

If all goes to plan we aim to complete our sale of a £325000 apartment in Sidcup in just under a week. The management company has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Sidcup?

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

• Completing pre-exchange enquiries
• Where consent is required before sale in Sidcup
• 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 conveyancer will have no control over the level of the charges for this information but the average costs for the information for Sidcup leasehold premises is £350. For Sidcup 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 supply the information.

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Sidcup conveyancing firm to assist?

You certainly can. We can put you in touch with a Sidcup conveyancing firm who can help.

An example of a Lease Extension case for a Sidcup property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.

In relation to leasehold conveyancing in Sidcup what are the most frequent lease defects?

Leasehold conveyancing in Sidcup is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain clauses are not included. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain elements of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, The Royal Bank of Scotland, and Clydesdale all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Other Topics

Lease Extensions in Sidcup