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Leasehold conveyancing in Stechford is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Stechford and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Frequently asked questions relating to Stechford leasehold conveyancing

I want to sublet my leasehold apartment in Stechford. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease dictates relations between the landlord and you the flat owner; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Stechford do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.

Back In 2007, I bought a leasehold flat in Stechford. Conveyancing and Santander mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Stechford who previously acted has long since retired.Any advice?

First make enquiries of HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Stechford conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Last month I purchased a leasehold flat in Stechford. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you offer any advice when it comes to appointing a Stechford conveyancing firm to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Stechford conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Stechford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

  • What volume of lease extensions have they conducted in Stechford in the last 12 months?
  • What are the legal fees for lease extension work?

    • Can you provide any top tips for leasehold conveyancing in Stechford with the intention of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Stechford can be avoided if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Stechford state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you dont have the approvals to hand do not contact the landlord without contacting your conveyancer first.
  • A minority of Stechford leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and discharge 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 clearly preferable to present the dispute as historic as opposed to unresolved.
  • You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I acquired a 1st floor flat in Stechford, conveyancing formalities finalised in 2002. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Stechford with a long lease are worth £178,000. The average or mid-range amount of ground rent is £50 levied per year. The lease terminates on 21st October 2078

    With just 53 years unexpired the likely cost is going to span between £29,500 and £34,000 plus professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Stechford