Experts for Leasehold Conveyancing in Bloomsbury

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Recently asked questions relating to Bloomsbury leasehold conveyancing

Having checked my lease I have discovered that there are only 72 years remaining on my flat in Bloomsbury. I now want to get lease extension but my freeholder is absent. What options are available to me?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have done all that could be expected to find the lessor. For most situations a specialist should be helpful to carry out a search and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Bloomsbury.

I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Bloomsbury. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Bloomsbury ?

The majority of houses in Bloomsbury are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Bloomsbury so you should seriously consider looking for a Bloomsbury conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor should appraise you on the various issues.

I am employed by a reputable estate agency in Bloomsbury where we have experienced a few leasehold sales derailed as a result of short leases. I have received conflicting advice from local Bloomsbury conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that 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. The benefit of this is that the proposed purchaser can avoid having 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 at the same time as completion of the sale.

An alternative approach is 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 Bloomsbury conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Bloomsbury conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Bloomsbury 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 helpful:

  • How experienced is the firm with lease extension legislation?
  • If the firm is not ALEP accredited then what is the reason?

  • My wife and I have hit a brick wall in seeking a lease extension in Bloomsbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.

    An example of a Lease Extension case for a Bloomsbury residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The remaining number of years on the lease was 66.8 years.

    When it comes to leasehold conveyancing in Bloomsbury what are the most common lease defects?

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

    • A provision to repair to or maintain parts of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Clydesdale all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.