Experts for Leasehold Conveyancing in Chinatown

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Questions and Answers: Chinatown leasehold conveyancing

I have recently realised that I have Seventy years unexpired on my lease in Chinatown. I am keen to get lease extension but my freeholder is missing. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have made all reasonable attempts to find the landlord. In some cases an enquiry agent may be useful to conduct investigations and to produce an expert document to be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Chinatown.

Expecting to sign contracts shortly on a leasehold property in Chinatown. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in Chinatown should include some of the following:

  • The physical extent of the property. This will be the property itself but could also include a loft or basement if appropriate.
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You must be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a sinking fund?
  • Changes to the flat (alterations and additions)
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Chinatown please ask your conveyancer in ahead of your conveyancing in Chinatown

    • I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Chinatown. Conveyancing solicitors have not yet been instructed. Will they explain the issues?

    Most houses in Chinatown are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Chinatown so you should seriously consider looking for a Chinatown conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.

    I work for a busy estate agent office in Chinatown where we have witnessed a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Chinatown conveyancing solicitors. Can you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?

    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 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 simultaneously with completion of the disposal of the property.

    An alternative approach is 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 buyer.

    Can you offer any advice when it comes to finding a Chinatown conveyancing practice to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Chinatown conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Chinatown conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:

    • How experienced is the practice with lease extension legislation?
  • What volume of lease extensions have they carried out in Chinatown in the last twenty four months?

    • I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Chinatown conveyancing firm to assist?

    You certainly can. We are happy to put you in touch with a Chinatown conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Chinatown flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case affected 2 flats. The unexpired lease term was 73.92 years.

    Other Topics

    Lease Extensions in Chinatown