Recently asked questions relating to Hayes leasehold conveyancing
I am in need of some leasehold conveyancing in Hayes. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and most are in Hayes - 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 rent out my leasehold apartment in Hayes. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Hayes conveyancing lawyer is no longer available you can review your lease to check if it allows you to sublet the property. The rule is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably turned down. If the lease prohibits you from letting out the property you should ask your landlord for their consent.
I am looking at a two apartments in Hayes both have in the region of forty five years left on the lease term. should I be concerned?
There are no two ways about it. A leasehold apartment in Hayes is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. 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 Hayes 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 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 work for a reputable estate agency in Hayes where we see a number of flat sales derailed due to short leases. I have been given conflicting advice from local Hayes conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start the lease extension process 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 buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as 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 purchaser.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Hayes. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a Hayes conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Hayes premises is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The unexpired lease term was 69 years.
What are the frequently found problems that you come across in leases for Hayes properties?
Leasehold conveyancing in Hayes is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain elements of the premises
- A duty to insure the building
- Clauses dealing with recovering service charges for expenditure on the building or common parts.
- Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.