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

Aldwych leasehold conveyancing Example Support Desk Enquiries

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great figure which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Aldwych. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Aldwych are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Aldwych so you should seriously consider shopping around for a Aldwych conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

I own a leasehold flat in Aldwych. Conveyancing and Barclays Direct mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Aldwych who acted for me is not around.Any advice?

The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Aldwych 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 rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am a negotiator for a reputable estate agent office in Aldwych where we have experienced a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Aldwych conveyancing firms. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease 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. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.

Can you offer any advice when it comes to finding a Aldwych conveyancing firm to carry out our lease extension conveyancing?

When appointing a property lawyer for lease extension works (regardless if they are a Aldwych conveyancing practice) it is essential 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 Aldwych conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • How familiar is the practice with lease extension legislation?
  • What volume of lease extensions have they carried out in Aldwych in the last 12 months?

    • Can you provide any top tips for leasehold conveyancing in Aldwych from the perspective of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Aldwych can be avoided if you get in touch lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
    • Many freeholders or Management Companies in Aldwych levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Aldwych.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Aldwych state that internal structural alterations or installing wooden flooring require a licence from the Landlord acquiescing to such alterations. If you fail to have the consents to hand you should not communicate with the landlord without checking with your conveyancer in advance.
  • Some Aldwych leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is 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 purchasers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. It is therefore important 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 home on the market for sale.

    • I inherited a ground-floor 1960’s flat in Aldwych. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

    in cases where there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.

    An example of a Freehold Enfranchisement case for a Aldwych premises is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The the unexpired residue of the current lease was 73.26 years.