Common questions relating to Hampton leasehold conveyancing
I only have Sixty One years remaining on my flat in Hampton. I now want to extend my lease but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission 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 prove that you or your lawyers have done all that could be expected to locate the freeholder. For most situations an enquiry agent would be helpful to try and locate and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the application to the County Court covering Hampton.
Looking forward to exchange soon on a studio apartment in Hampton. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Hampton should include some of the following:
- Setting out your rights in respect of common areas in the block.For instance, does the lease contain a right of way over an accessway or staircase?
I've found a house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Hampton. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
Most houses in Hampton are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Hampton in which case you should be shopping around for a Hampton conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will advise you fully on all the issues.
I work for a busy estate agent office in Hampton where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received contradictory information from local Hampton conveyancing firms. Please can you clarify whether the owner of a flat can start the lease extension formalities 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 proposed purchaser need not have 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.
An alternative approach is 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.
What are your top tips when it comes to choosing a Hampton conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Hampton conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Hampton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- If the firm is not ALEP accredited then why not?
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Hampton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Lease Extension matter before the tribunal for a Hampton residence 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 the unexpired term as at the valuation date was 82.93 years.