Fixed-fee leasehold conveyancing in Covent Garden:

Get a Quote

Whether you are buying or selling leasehold flat in Covent Garden, our panel of leasehold conveyancing experts will help you move with as little stress as possible. Find a Covent Garden conveyancing lawyer with our search tool

Frequently asked questions relating to Covent Garden leasehold conveyancing

I am in need of some leasehold conveyancing in Covent Garden. Before I get started I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Covent Garden - then the leasehold title will always include the short particulars 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've found a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Covent Garden. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

The majority of houses in Covent Garden are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Covent Garden in which case you should be looking for a Covent Garden conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.

I am a negotiator for a busy estate agent office in Covent Garden where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Covent Garden conveyancing solicitors. Please can you confirm whether the owner of a flat can commence the lease extension process for the buyer?

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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.

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 buyer.

Can you provide any advice for leasehold conveyancing in Covent Garden from the point of view of saving time on the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Covent Garden can be avoided if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers conveyancers.
  • The majority freeholders or managing agents in Covent Garden levy fees 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 on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Covent Garden.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Covent Garden leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you fail to have the approvals in place do not communicate with the landlord without checking with your conveyancer in the first instance.
  • A minority of Covent Garden leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual 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 solicitors.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Covent Garden conveyancing firm to act on my behalf?

    Absolutely. We can put you in touch with a Covent Garden conveyancing firm who can help.

    An example of a Freehold Enfranchisement decision for a Covent Garden 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.

    When it comes to leasehold conveyancing in Covent Garden what are the most frequent lease problems?

    There is nothing unique about leasehold conveyancing in Covent Garden. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. 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.
    • Service charge per centages that don't add up correctly leaving a shortfall

    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. Barclays , Norwich and Peterborough Building Society, and Nottingham Building Society 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 does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Covent Garden