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Any conveyancing practice can theoretically deal with your leasehold conveyancing in Sydenham, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Sydenham leasehold conveyancing

I wish to let out my leasehold apartment in Sydenham. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A small minority of properties in Sydenham do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in Sydenham. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Sydenham ?

The majority of houses in Sydenham are freehold rather than 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 apparent that you are buying in Sydenham so you should seriously consider shopping around for a Sydenham conveyancing practitioner and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.

Last month I purchased a leasehold property in Sydenham. Am I liable to pay service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am employed by a busy estate agent office in Sydenham where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Sydenham conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that 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 can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

An alternative approach is 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.

Can you provide any top tips for leasehold conveyancing in Sydenham with the intention of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Sydenham can be reduced where you instruct lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives.
  • The majority freeholders or managing agents in Sydenham levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Sydenham.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or settle 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 will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a lengthy formality and delays many a Sydenham home move. Where a new share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible.
  • You believe that you know the number of years left on your lease but it would be wise to verify this by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Sydenham conveyancing firm to represent me?

    Most definitely. We can put you in touch with a Sydenham conveyancing firm who can help.

    An example of a Lease Extension case for a Sydenham residence is Flat 1 4 Border Crescent in March 2012. the Tribunal decided that the sum payable by the Applicants to the Respondent in respect of the new lease for the subject property should be £11,616.00 (ElevenThousand and Six Hundred and Sixteen Pounds) This case affected 1 flat. The the number of years remaining on the existing lease(s) was 72.04 years.

    Other Topics

    Lease Extensions in Sydenham