Experts for Leasehold Conveyancing in Westcombe Park

Get a Quote

Whether you are buying or selling leasehold flat in Westcombe Park, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Westcombe Park conveyancing lawyer with our search tool

Sample questions relating to Westcombe Park leasehold conveyancing

I am in need of some leasehold conveyancing in Westcombe Park. Before I set the wheels in motion I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and almost all are in Westcombe Park - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Harry (my fiance) and I may need to rent out our Westcombe Park ground floor flat for a while due to taking a sabbatical. We instructed a Westcombe Park conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease allows us to sublet. How do we find out?

Your lease governs the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Westcombe Park do not contain subletting altogether – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

What advice can you give us when it comes to choosing a Westcombe Park conveyancing practice to carry out our lease extension conveyancing?

When appointing a property lawyer for your lease extension (regardless if they are a Westcombe Park conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Westcombe Park conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:

  • How experienced is the practice with lease extension legislation?
  • What volume of lease extensions have they conducted in Westcombe Park in the last year?

    • Can you provide any top tips for leasehold conveyancing in Westcombe Park with the purpose of saving time on the sale process?

    • Much of the frustration in leasehold conveyancing in Westcombe Park can be bypassed where you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers.
    • The majority freeholders or managing agents in Westcombe Park charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Westcombe Park.
  • A minority of Westcombe Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and discharge 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 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 rather than unresolved.
  • If you hold a share in a the freehold, you should ensure that you have the original share certificate. Arranging a new share certificate can be a lengthy formality and slows down many a Westcombe Park home move. If a new share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.

    • Following years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Westcombe Park. Can we issue an application to the Residential Property Tribunal Service?

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

    An example of a Lease Extension decision for a Westcombe Park residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case was in relation to 2 flats. The remaining number of years on the lease was 72 years.

    What makes a Westcombe Park lease unacceptable for security purposes?

    Leasehold conveyancing in Westcombe Park is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Leeds Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.