Common questions relating to Cricklewood leasehold conveyancing
I am in need of some leasehold conveyancing in Cricklewood. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and most are in Cricklewood - 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 have recently realised that I have 72 years unexpired on my lease in Cricklewood. I am keen to extend my lease but my freeholder is missing. 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 an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. For most situations a specialist would be useful to try and locate and to produce an expert document which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering Cricklewood.
I work for a reputable estate agency in Cricklewood where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Cricklewood conveyancing solicitors. Please can you clarify 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 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible 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 purchaser.
Completion in due on the disposal of our £225000 garden flat in Cricklewood in just under a week. The freeholder has quoted £300 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Cricklewood?
Cricklewood conveyancing on leasehold apartments more often than not requires the purchaser’s conveyancer submitting questions for the landlord to address. Although the landlord is under no legal obligation to respond to such questions the majority will be content to do so. They are entitled charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a summary of rights and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality one has little option but to pay whatever is requested of you should you wish to complete the sale of your home.
After months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Cricklewood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Cricklewood residence is 73 and 73a St. Pauls Avenue in October 2013. the Tribunal held in accordance with section32 and Schedule 6 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the enfranchisement was fifty three thousand three hundred and sixty one pounds (£53,361.00) This case affected 2 flats. The the unexpired term as at the valuation date was 64.61 and 67.18.
What are the common defects that you see in leases for Cricklewood properties?
There is nothing unique about leasehold conveyancing in Cricklewood. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain elements of the property
- 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 will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Leeds Building Society, and Godiva Mortgages Ltd 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 is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.