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Questions and Answers: Upper Norwood leasehold conveyancing

I want to let out my leasehold flat in Upper Norwood. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

A small minority of properties in Upper Norwood do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see 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 am employed by a busy estate agency in Upper Norwood where we have witnessed a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Upper Norwood conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has owned the lease 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 proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible 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 Upper Norwood conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Upper Norwood conveyancing practice) it is most important 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 Upper Norwood conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the firm with lease extension legislation?
  • What volume of lease extensions has the firm carried out in Upper Norwood in the last 12 months?

    • Do you have any top tips for leasehold conveyancing in Upper Norwood with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Upper Norwood can be bypassed if you get in touch lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold information which will be required by the purchasers’ conveyancers.
    • The majority freeholders or Management Companies in Upper Norwood levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Upper Norwood.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where a dispute is ongoing. You will have to accept that you will have to 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Organising a replacement share certificate can be a lengthy process and slows down many a Upper Norwood home move. Where a duplicate share is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is under 80 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.

    • We have reached the end of our tether in trying to purchase the freehold in Upper Norwood. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. We are happy to put you in touch with a Upper Norwood conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Upper Norwood residence is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The unexpired lease term was 26.38 years.

    What are the common deficiencies that you encounter in leases for Upper Norwood properties?

    There is nothing unique about leasehold conveyancing in Upper Norwood. Most leases are individual and drafting errors can result in certain sections are wrong. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • 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 have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Upper Norwood