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

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Common questions relating to Sydenham Hill leasehold conveyancing

Back In 2007, I bought a leasehold flat in Sydenham Hill. Conveyancing and Bank of Ireland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Sydenham Hill who previously acted has long since retired.Any advice?

First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to instruct a Sydenham Hill conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

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

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. 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 a negotiator for a busy estate agency in Sydenham Hill where we have witnessed a few flat sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Sydenham Hill conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer 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 before, or simultaneously with completion of the disposal of the property.

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.

What are your top tips when it comes to appointing a Sydenham Hill conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Sydenham Hill conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Sydenham Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be of use:

  • If the firm is not ALEP accredited then what is the reason?
  • What are the legal fees for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Sydenham Hill with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Sydenham Hill can be avoided where you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
    • If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you installed wooden flooring? Sydenham Hill leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such alterations. Where you fail to have the approvals to hand do not communicate with the landlord without contacting your conveyancer in the first instance.
  • A minority of Sydenham Hill leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unsettled.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a duplicate share certificate is often a lengthy formality and slows down many a Sydenham Hill home move. If a duplicate share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Sydenham Hill conveyancing firm to act on my behalf?

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

    An example of a Lease Extension matter before the tribunal for a Sydenham Hill property 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 remaining number of years on the lease was 72.04 years.