Sample questions relating to Chiswick leasehold conveyancing
I would like to sublet my leasehold apartment in Chiswick. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Chiswick do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am attracted to a couple of maisonettes in Chiswick which have approximately forty five years left on the lease term. Will this present a problem?
A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena
I am employed by a busy estate agency in Chiswick where we have experienced a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Chiswick conveyancing solicitors. Could you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence 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 for a lease extension. 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 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 choosing a Chiswick conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Chiswick conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Chiswick conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Chiswick from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Chiswick can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the buyers representatives.
- Many freeholders or managing agents in Chiswick levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Chiswick.
I am the registered owner of a basement flat in Chiswick. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a Chiswick residence is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case affected 1 flat. The the unexpired term as at the valuation date was 68.34 years.