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Any conveyancing practice can theoretically handle your leasehold conveyancing in Swanley, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Swanley leasehold conveyancing

I am hoping to complete next month on a leasehold property in Swanley. Conveyancing solicitors have said that they report fully next week. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Are pets allowed in the flat?
  • You must be told what constitutes a Nuisance in the lease
  • 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
  • What options are open to you if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Swanley please enquire of your lawyer in advance of your conveyancing in Swanley

    • My wife and I purchased a leasehold house in Swanley. Conveyancing and Birmingham Midshires mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Swanley who previously acted has now retired.What should I do?

    The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to instruct a Swanley conveyancing firm to do this as you can do this on the Land Registry website 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.

    I am attracted to a couple of maisonettes in Swanley both have about 50 years remaining on the lease term. Will this present a problem?

    There are no two ways about it. A leasehold flat in Swanley is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less marketable. 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 property 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 premises 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 Swanley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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 are your top tips when it comes to choosing a Swanley conveyancing firm to carry out our lease extension conveyancing?

    When appointing a property lawyer for lease extension works (regardless if they are a Swanley conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Swanley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

    • If they are not ALEP accredited then what is the reason?
  • What volume of lease extensions have they completed in Swanley in the last 12 months?

    • Can you provide any advice for leasehold conveyancing in Swanley with the intention of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Swanley can be reduced if you appoint lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors.
    • If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Swanley leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork to hand you should not contact the landlord without contacting your lawyer in advance.
  • Some Swanley leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying 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 purchasers or their lawyers.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to 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 better to reveal the dispute as historic as opposed to unsettled.
  • You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I have given up trying to purchase the freehold in Swanley. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to calculate the amount due.

    An example of a Lease Extension case for a Swanley property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The remaining number of years on the lease was 76 years.

    Other Topics

    Lease Extensions in Swanley