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

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Frequently asked questions relating to Oxted leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Oxted. Before I get started I require certainty as to the number of years remaining on the lease.

If the lease is registered - and 99.9% are in Oxted - 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.

I am hoping to complete next month on a studio apartment in Oxted. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Oxted should include some of the following:

  • You should be sent a copy of the lease
  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • The physical extent of the premises. This will be the flat itself but may incorporate a roof space or cellar if applicable.
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • Changes to the flat (alterations and additions)
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For a comprehensive list of information to be included in your report on your leasehold property in Oxted please ask your conveyancer in ahead of your conveyancing in Oxted

    • I have just started marketing my ground floor flat in Oxted.Conveyancing has not commenced but I have just had a quarterly service charge demand – should I leave it to the buyer to sort out?

    The sensible thing to do is clear the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    Can you provide any top tips for leasehold conveyancing in Oxted from the perspective of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Oxted can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
    • The majority landlords or managing agents in Oxted levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Oxted.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Oxted state that internal structural alterations or laying down wooden flooring require a licence from the Landlord consenting to such changes. Where you dont have the consents in place do not communicate with the landlord without contacting your lawyer before hand.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to completion of the sale. 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 particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing.
  • You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on our sale of a £325000 maisonette in Oxted next Monday . The managing agents has quoted £348 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Oxted?

    Oxted conveyancing on leasehold maisonettes more often than not necessitates the purchaser’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to answer such questions the majority will be willing to do so. They may invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to sell the property.

    I bought a 2 bed flat in Oxted, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Oxted with a long lease are worth £175,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2079

    You have 54 years unexpired we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as professional fees.

    The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.

    Other Topics

    Lease Extensions in Oxted