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

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Common questions relating to Smithfield leasehold conveyancing

My wife and I may need to let out our Smithfield basement flat for a while due to a new job. We instructed a Smithfield conveyancing firm in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

A small minority of properties in Smithfield do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates 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.

Looking forward to sign contracts shortly on a leasehold property in Smithfield. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Smithfield 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 informed of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the flat itself but might include a roof space or basement if applicable.
  • Setting out your legal entitlements in respect of the communal areas in the block.For instance, does the lease provide for a right of way over an accessway or staircase?
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required For details of the information to be included in your report on your leasehold property in Smithfield please ask your solicitor in advance of your conveyancing in Smithfield

  • I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Smithfield. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Smithfield ?

    The majority of houses in Smithfield are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. We note that you are purchasing in Smithfield in which case you should be shopping around for a Smithfield conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.

    Back In 2003, I bought a leasehold flat in Smithfield. Conveyancing and Santander mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Smithfield who previously acted has long since retired.What should I do?

    The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Smithfield conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    What are your top tips when it comes to choosing a Smithfield conveyancing practice to carry out our lease extension conveyancing?

    If you are instructing a conveyancer for lease extension works (regardless if they are a Smithfield 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 Smithfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

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

  • Smithfield Leasehold Conveyancing - Sample of Queries before buying

      If a Smithfield lease has fewer than eighty years it will have adverse implications on the value of the flat. Check with your bank that they are content with residual term of the lease. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have been the owner of the property for two years in order to be eligible to exercise a lease extension. Is the freehold reversion owned jointly by the tenants? Does this lease have more than 90 years remaining?

    Other Topics

    Lease Extensions in Smithfield