Experts for Leasehold Conveyancing in Sydenham

While any conveyancing practice can theoretically handle 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

Sydenham leasehold conveyancing Example Support Desk Enquiries

Looking forward to sign contracts shortly on a leasehold property in Sydenham. Conveyancing solicitors have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?

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

  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Whether the lease restricts you from subletting the property, or having a home office for business
  • 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
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Sydenham please ask your conveyancer in advance of your conveyancing in Sydenham

  • Back In 2005, I bought a leasehold flat in Sydenham. Conveyancing and Alliance & Leicester mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Sydenham who acted for me is not around.Do I pay?

    First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Sydenham conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I've recently bought a leasehold property in Sydenham. Do I have any liability for service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part 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 work for a reputable estate agent office in Sydenham where we have witnessed a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local Sydenham conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the buyer?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 at the same time as completion of the sale.

    An alternative approach is to extend the lease informally by agreement with the landlord 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.

    We expect to complete the disposal of our £350000 apartment in Sydenham next week. The freeholder has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Sydenham?

    Sydenham conveyancing on leasehold apartments nine out of ten times necessitates administration charges levied by management companies :

    • Completing conveyancing due diligence questions
    • Where consent is required before sale in Sydenham
    • Supplying insurance information
    • 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 Sydenham leasehold premises is £350. For Sydenham 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 required to supply the information.

    Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Sydenham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

    An example of a Lease Extension decision for a Sydenham residence is Flat 5 4 Border Crescent in December 2013. the tribunal calculated that premium payable for the acquisition of a lease extension of the subject premises was in the sum of £14,900 (Fourteen thousand, nine hundred pounds). Those advising the applicant were advised to send a copy of the decision and a copy of the new lease with the premium (less the applicants costs as assessed by the Court) to the Croydon County Court (under claim number 3CR01226) for an officer of the Court to execute the new lease on behalf of the absentee landlord who is missing and cannot be traced). This case was in relation to 1 flat. The unexpired term was 69 years.

    Other Topics

    Lease Extensions in Sydenham