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

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Common questions relating to Sydenham Hill leasehold conveyancing

I have just started marketing my basement flat in Sydenham Hill.Conveyancing solicitors are to be appointed soon but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've recently bought a leasehold house in Sydenham Hill. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee 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. It is an essential part 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).

What advice can you give us when it comes to appointing a Sydenham Hill conveyancing firm to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Sydenham Hill 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 speak with several firms including non Sydenham Hill 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:

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

Can you provide any top tips for leasehold conveyancing in Sydenham Hill from the perspective of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Sydenham Hill can be reduced where you instruct lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information needed by the buyers representatives.
  • If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Sydenham Hill leases often stipulate that internal structural changes or installing wooden flooring require a licence from the Landlord acquiescing to such changes. Where you fail to have the paperwork in place you should not contact the landlord without contacting your conveyancer in advance.
  • Some Sydenham Hill leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Obtaining a re-issued share certificate is often a time consuming formality and slows down many a Sydenham Hill conveyancing deal. Where a new share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 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.

All being well we will complete the disposal of our £ 175000 apartment in Sydenham Hill next Wednesday . The freeholder has quoted £<Macro 'feeRangeWithVAT'> for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Sydenham Hill?

Sydenham Hill conveyancing on leasehold maisonettes usually necessitates the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to answer such questions the majority will be willing to do so. They are entitled charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The administration charge invoiced by the landlord must be sent together with a summary of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that you have no choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Sydenham Hill. Can we issue an application to the Residential Property Tribunal Service?

You certainly can. We can put you in touch with a Sydenham Hill conveyancing firm who can help.

An example of a Lease Extension decision for a Sydenham Hill residence is Flat 1 4 Border Crescent in March 2012. the Tribunal decided that the sum payable by the Applicants to the Respondent in respect of the new lease for the subject property should be £11,616.00 (ElevenThousand and Six Hundred and Sixteen Pounds) This case was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 72.04 years.

Leasehold Conveyancing in Sydenham Hill - Examples of Questions you should ask Prior to buying

    How much is the maintenance charge and ground rent on the apartment? Is the freehold reversion owned collectively by the tenants?