Fixed-fee leasehold conveyancing in Lower Sunbury:

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Lower Sunbury leasehold conveyancing: Q and A’s

Due to complete next month on a leasehold property in Lower Sunbury. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

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

  • Defining your rights in relation to the communal areas in the building.By way of example, does the lease grant a right of way over an accessway or hallways?
  • Are you allowed to have a pet in the flat?
  • You must be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Whether your lease has a provision for a reserve fund?
  • 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.
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be contained in your report on your leasehold property in Lower Sunbury please ask your lawyer in ahead of your conveyancing in Lower Sunbury

    • I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Lower Sunbury. Conveyancing advisers have not yet been appointed. Will they explain the issues?

    The majority of houses in Lower Sunbury are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Lower Sunbury in which case you should be looking for a Lower Sunbury conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should advise you fully on all the issues.

    I am tempted by the attractive purchase price for a two apartments in Lower Sunbury both have approximately forty five years remaining on the lease term. Do I need to be concerned?

    There are no two ways about it. A leasehold apartment in Lower Sunbury is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lower Sunbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    What advice can you give us when it comes to appointing a Lower Sunbury conveyancing firm to deal with our lease extension?

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

    • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Lower Sunbury who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in Lower Sunbury from the point of view of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Lower Sunbury can be reduced where you appoint lawyers as soon as your agents start marketing the property and request that they start to put together the leasehold documentation needed by the purchasers’ conveyancers.
    • Many freeholders or Management Companies in Lower Sunbury levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have 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 cause of frustration in leasehold conveyancing in Lower Sunbury.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Lower Sunbury leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. Should you fail to have the approvals in place you should not communicate with the landlord without checking with your solicitor in the first instance.
  • Some Lower Sunbury leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet 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 buyers or their lawyers.
  • You believe that you know the number of years remaining on your lease but you should verify this by asking your solicitors. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is below 80 years. It is therefore important 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.

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Lower Sunbury conveyancing firm to help?

    You certainly can. We are happy to put you in touch with a Lower Sunbury conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Lower Sunbury property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The the unexpired term as at the valuation date was 82.93 years.

    Other Topics

    Lease Extensions in Lower Sunbury