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

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Sample questions relating to New Eltham leasehold conveyancing

My partner and I may need to sub-let our New Eltham garden flat for a while due to a new job. We used a New Eltham conveyancing firm in 2003 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your last New Eltham conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to obtain permission from your landlord or some other party in advance of subletting. This means that you cannot sublet without first obtaining permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I am a negotiator for a long established estate agent office in New Eltham where we have witnessed a few flat sales jeopardised as a result of short leases. I have been given contradictory information from local New Eltham conveyancing firms. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

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 appointing a New Eltham conveyancing firm to deal with our lease extension?

If you are instructing a property lawyer for your lease extension (regardless if they are a New Eltham conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non New Eltham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • If they are not ALEP accredited then what is the reason?
  • How many lease extensions has the firm conducted in New Eltham in the last twenty four months?

    • Do you have any advice for leasehold conveyancing in New Eltham with the purpose of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in New Eltham can be bypassed where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the buyers representatives.
    • The majority freeholders or Management Companies in New Eltham levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in New Eltham.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? New Eltham leases often stipulate that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord approving such works. Where you dont have the consents in place you should not communicate with the landlord without contacting your solicitor in advance.
  • Some New Eltham 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 obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly 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 buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share document. Obtaining a new share certificate can be a lengthy formality and slows down many a New Eltham conveyancing deal. Where a new share is required, do contact the company officers or managing agents (where applicable) for this as soon as possible.

    • If all goes to plan we aim to complete the disposal of our £200000 maisonette in New Eltham next week. The management company has quoted £348 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in New Eltham?

    New Eltham conveyancing on leasehold flats usually necessitates the buyer’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions the majority will be content to assist. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.

    I inherited a first floor flat in New Eltham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?

    Most definitely. We can put you in touch with a New Eltham conveyancing firm who can help.

    An example of a Lease Extension case for a New Eltham residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.

    Other Topics

    Lease Extensions in New Eltham