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Covent Garden leasehold conveyancing: Q and A’s

I am on look out for some leasehold conveyancing in Covent Garden. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Covent Garden - then the leasehold title will always include the basic details 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 want to let out my leasehold flat in Covent Garden. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

The lease governs relations between the freeholder and you the flat owner; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Covent Garden do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.

I only have 62 years left on my lease in Covent Garden. I am keen to get lease extension but my landlord is can not be found. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you have used your best endeavours to locate the landlord. On the whole an enquiry agent may be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court covering Covent Garden.

I have just started marketing my basement apartment in Covent Garden.Conveyancing has not commenced but I have just had a quarterly service charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

Can you provide any top tips for leasehold conveyancing in Covent Garden with the aim of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Covent Garden can be avoided if you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Covent Garden leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such changes. Where you dont have the consents to hand do not contact the landlord without contacting your conveyancer in advance.
  • A minority of Covent Garden leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 buyers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Arranging a new share certificate can be a time consuming formality and frustrates many a Covent Garden conveyancing transaction. If a new share certificate is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.

    • Having spent years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Covent Garden. Can we issue an application to the Residential Property Tribunal Service?

    in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the price payable.

    An example of a Freehold Enfranchisement matter before the tribunal 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 was in relation to 1 flat. The the unexpired term as at the valuation date was 73.26 years.

    Other Topics

    Lease Extensions in Covent Garden