I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Hounslow. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Hounslow ?

The majority of houses in Hounslow are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Hounslow in which case you should be shopping around for a Hounslow conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.

I own a leasehold house in Hounslow. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Hounslow who previously acted has long since retired.Do I pay?

First contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to instruct a Hounslow conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a couple of apartments in Hounslow both have approximately 50 years unexpired on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Hounslow is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the marketability of the property. The majority of purchasers and banks, 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 Hounslow 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've recently bought a leasehold property in Hounslow. Do I have any liability for service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hounslow conveyancing firm to help?

in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the amount due.

An example of a Lease Extension decision for a Hounslow flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The the unexpired residue of the current lease was 60.45 years.

When it comes to leasehold conveyancing in Hounslow what are the most frequent lease problems?

Leasehold conveyancing in Hounslow is not unique. All leases are individual and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• 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 have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Virgin Money, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

Other Topics

Lease Extensions in Hounslow