Leasehold Conveyancing in East Bedfont - Get a Quote from the leasehold experts approved by your lender

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Any conveyancing practice can theoretically handle your leasehold conveyancing in East Bedfont, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

East Bedfont leasehold conveyancing: Q and A’s

My partner and I may need to let out our East Bedfont garden flat for a while due to a new job. We instructed a East Bedfont conveyancing practice in 2003 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last East Bedfont conveyancing solicitor is no longer available you can check your lease to see if you are permitted to let out the premises. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you need to obtain permission from your landlord or some other party before subletting. The net result is that you cannot sublet without prior permission. Such consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I only have 68 years unexpired on my flat in East Bedfont. I need to extend my lease but my landlord is missing. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to locate the freeholder. For most situations an enquiry agent should be useful to conduct investigations and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering East Bedfont.

I am attracted to a couple of apartments in East Bedfont both have in the region of 50 years remaining on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold flat in East Bedfont is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most 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 property 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 a residence 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 East Bedfont conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.

I am a negotiator for a reputable estate agency in East Bedfont where we see a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given conflicting advice from local East Bedfont conveyancing solicitors. Please can you confirm whether the vendor of a flat can instigate 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 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 before, or simultaneously with completion of the sale.

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 buyer.

Do you have any top tips for leasehold conveyancing in East Bedfont with the aim of expediting the sale process?

  • Much of the frustration in leasehold conveyancing in East Bedfont can be bypassed if you appoint lawyers the minute you market your property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in East Bedfont state that internal structural changes or installing wooden flooring require a licence from the Landlord approving such changes. Should you fail to have the consents in place do not communicate with the landlord without contacting your lawyer before hand.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be concerned about purchasing a flat where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or settle 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 will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to ongoing.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Obtaining a replacement share certificate is often a lengthy process and slows down many a East Bedfont conveyancing transaction. Where a duplicate share certificate is necessary, you should approach the company officers or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is below 75 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a East Bedfont conveyancing firm to act on my behalf?

    Most definitely. We are happy to put you in touch with a East Bedfont conveyancing firm who can help.

    An example of a Lease Extension case for a East Bedfont premises is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired term was 82.93 years.