Recently asked questions relating to Earls Court leasehold conveyancing
My partner and I may need to let out our Earls Court garden flat temporarily due to a career opportunity. We used a Earls Court conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Some leases for properties in Earls Court do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold 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 hoping to exchange soon on a garden flat in Earls Court. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Earls Court should include some of the following:
- How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I work for a long established estate agency in Earls Court where we see a number of leasehold sales derailed due to short leases. I have received inconsistent advice from local Earls Court conveyancing solicitors. Can you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. 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 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.
What are your top tips when it comes to finding a Earls Court conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Earls Court conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Earls Court conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
Do you have any top tips for leasehold conveyancing in Earls Court from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Earls Court can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold information needed by the buyers representatives.
- Many freeholders or managing agents in Earls Court charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Earls Court.
My wife and I have hit a brick wall in trying to purchase the freehold in Earls Court. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the LVT to determine the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Earls Court premises is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case was in relation to 5 flats. The the unexpired term as at the valuation date was 38.98 years.