I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Gunnersbury. Conveyancing advisers have not yet been appointed. Will they explain the issues?

Most houses in Gunnersbury are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Gunnersbury so you should seriously consider looking for a Gunnersbury conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your conveyancer will advise you fully on all the issues.

I am looking at a couple of apartments in Gunnersbury both have approximately forty five years left on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Gunnersbury is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat 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 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 Gunnersbury 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.

What are your top tips when it comes to choosing a Gunnersbury conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Gunnersbury conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Gunnersbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

• How experienced is the practice with lease extension legislation?

If they are not ALEP accredited then what is the reason?

Can you provide any top tips for leasehold conveyancing in Gunnersbury with the purpose of saving time on the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Gunnersbury can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
• Many landlords or managing agents in Gunnersbury charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Gunnersbury.

A minority of Gunnersbury leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly 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 service charge figures so that they can pass this information on to the buyers or their lawyers.

If you have had conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unresolved.

If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share document. Organising a replacement share certificate can be a lengthy formality and slows down many a Gunnersbury conveyancing transaction. Where a new share certificate is required, you should approach the company director and secretary or managing agents (where applicable) for this as soon as possible.

We expect to complete the sale of our £400000 flat in Gunnersbury next Friday . The managing agents has quoted £384 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Gunnersbury?

For most leasehold sales in Gunnersbury conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

• Completing pre-exchange questions
• Where consent is required before sale in Gunnersbury
• Supplying insurance information
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Gunnersbury leasehold premises is £350. For Gunnersbury conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to supply the information.

Having spent months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Gunnersbury. Can we issue an application to the Residential Property Tribunal Service?

in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to assess the premium.

An example of a Freehold Enfranchisement matter before the tribunal for a Gunnersbury flat is 169 Southfield Road in September 2013. the tribunal decided that the premium to be paid in respect of the collective enfranchisement should be £51,203 This case was in relation to 2 flats. The the unexpired residue of the current lease was 64.64 years.

Other Topics

Lease Extensions in Gunnersbury