Fixed-fee leasehold conveyancing in Hammersmith And Fulham:

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Common questions relating to Hammersmith And Fulham leasehold conveyancing

I am in need of some leasehold conveyancing in Hammersmith And Fulham. Before diving in I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Hammersmith And Fulham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I only have Fifty years left on my lease in Hammersmith And Fulham. I now want to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the freeholder. On the whole a specialist should be helpful to conduct investigations and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Hammersmith And Fulham.

I own a leasehold house in Hammersmith And Fulham. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in Hammersmith And Fulham who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to make sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Hammersmith And Fulham conveyancing solicitor 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 landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Do you have any top tips for leasehold conveyancing in Hammersmith And Fulham with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Hammersmith And Fulham can be avoided if you appoint lawyers as soon as your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
  • Many landlords or Management Companies in Hammersmith And Fulham charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Hammersmith And Fulham.
  • Some Hammersmith And Fulham leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to 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 financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than unresolved.
  • 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 re-issued share certificate can be a time consuming process and frustrates many a Hammersmith And Fulham conveyancing transaction. Where a duplicate share certificate is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible.

    • When it comes to leasehold conveyancing in Hammersmith And Fulham what are the most common lease defects?

    Leasehold conveyancing in Hammersmith And Fulham is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • 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 primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, The Mortgage Works, and TSB all have very detailed 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, obliging the purchaser to withdraw.

    I own a ground floor flat in Hammersmith And Fulham, conveyancing having been completed 2002. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Hammersmith And Fulham with a long lease are worth £216,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2078

    You have 53 years remaining on your lease we estimate the premium for your lease extension to range between £34,200 and £39,600 plus plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

    Other Topics

    Lease Extensions in Hammersmith And Fulham