Hanwell leasehold conveyancing Example Support Desk Enquiries
I am on look out for some leasehold conveyancing in Hanwell. Before I get started I want to be sure as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Hanwell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I would like to let out my leasehold apartment in Hanwell. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Some leases for properties in Hanwell do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see 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 consent.
Having checked my lease I have discovered that there are only 72 years remaining on my flat in Hanwell. I am keen to get lease extension but my landlord is absent. What should I do?
On the basis that you qualify, 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 Court. However, you will be required to prove that you have used your best endeavours to find the freeholder. On the whole a specialist should be helpful to try and locate and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Hanwell.
I am attracted to a two flats in Hanwell both have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold flat in Hanwell is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. 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 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 Hanwell 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 any new 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 agent office in Hanwell where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Hanwell conveyancing firms. Can you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
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 buyer 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 has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Hanwell conveyancing firm to represent me?
Most certainly. We can put you in touch with a Hanwell conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Hanwell flat is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case related to 2 flats. The the number of years remaining on the existing lease(s) was 72.39 years.
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