Guaranteed fixed fees for Leasehold Conveyancing in Keston

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

Recently asked questions relating to Keston leasehold conveyancing

I am hoping to complete next month on a ground floor flat in Keston. Conveyancing lawyers inform me 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 Keston should include some of the following:

  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Changes to the flat (alterations and additions)
  • What you can do if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be contained in your report on your leasehold property in Keston please ask your conveyancer in ahead of your conveyancing in Keston

    • I am tempted by the attractive purchase price for a couple of flats in Keston both have approximately fifty years unexpired on the leases. Will this present a problem?

    There are plenty of short leases in Keston. The lease is a right to use the premises for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

    I am a negotiator for a reputable estate agency in Keston where we see a number of leasehold sales derailed due to short leases. I have received conflicting advice from local Keston conveyancing firms. Could you clarify whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?

    As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

    What advice can you give us when it comes to choosing a Keston conveyancing practice to deal with our lease extension?

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

    • How many lease extensions have they completed in Keston in the last 12 months?
  • Can they put you in touch with client in Keston who can give a testimonial?

    • I am the leaseholder of a ground floor flat in Keston. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?

    if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the sum to be paid.

    An example of a Lease Extension decision for a Keston premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The remaining number of years on the lease was 50.57 years.

    In relation to leasehold conveyancing in Keston what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Keston. Most leases is drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Bank of Scotland, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Keston