Due to complete next month on a leasehold property in Earls Court. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Earls Court should include some of the following:

• Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
• The total extent of the premises. This will be the flat itself but could also include a roof space or basement if applicable.
• Defining your legal entitlements in relation to common areas in the building.E.G., does the lease contain a right of way over a path or hallways?
• Will you be prohibited or prevented from having pets in the property?
• Does the lease prevent you from renting out the flat, or having a home office for business
• Responsibility for repairing the window frames
• What the implications are if you breach a clause of your lease?

Back In 2006, I bought a leasehold flat in Earls Court. Conveyancing and Accord Mortgages Ltd mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Earls Court who acted for me is not around.Do I pay?

The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Earls Court conveyancing firm to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of flats in Earls Court which have about forty five years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold apartment in Earls Court is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and banks, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Earls Court conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to appointing a Earls Court conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Earls Court conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Earls Court conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How familiar is the firm with lease extension legislation?
• If they are not ALEP accredited then why not?

Can you provide any top tips for leasehold conveyancing in Earls Court from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Earls Court can be avoided where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ representatives.
• The majority landlords or Management Companies in Earls Court levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Earls Court.
• If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Earls Court state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you fail to have the consents to hand you should not contact the landlord without contacting your lawyer in advance.
• If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share document. Obtaining a new share certificate is often a time consuming process and frustrates many a Earls Court conveyancing transaction. If a reissued share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this sooner rather than later.
• You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Earls Court. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

You certainly can. We are happy to put you in touch with a Earls Court conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Earls Court property 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 related to 5 flats. The the number of years remaining on the existing lease(s) was 38.98 years.

Leasehold Conveyancing in Earls Court - A selection of Queries Prior to buying

Does the lease have more than 80 years unexpired? The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this scenario the lessees benefit from being in charge if their destiny and although a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Does the lease have onerous restrictions?