I today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Sipson. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Sipson ?

Most houses in Sipson are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Sipson so you should seriously consider shopping around for a Sipson conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should appraise you on the various issues.

I am attracted to a two maisonettes in Sipson both have in the region of forty five years left on the leases. should I be concerned?

A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this area

What are your top tips when it comes to appointing a Sipson conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a conveyancer for lease extension works (regardless if they are a Sipson conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Sipson conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

• How familiar is the practice with lease extension legislation?

We expect to complete the disposal of our £300000 apartment in Sipson next Thursday . The managing agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Sipson?

Sipson conveyancing on leasehold flats more often than not necessitates the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions most will be content to do so. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it exceeds £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you should you wish to complete the sale of your home.

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

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

An example of a Freehold Enfranchisement decision for a Sipson flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case affected 2 flats. The unexpired term was 69 years.

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

There is nothing unique about leasehold conveyancing in Sipson. Most leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. 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 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

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to pull out.

Other Topics

Lease Extensions in Sipson