Having had my offer accepted I require leasehold conveyancing in Isleworth. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is registered - and most are in Isleworth - then the leasehold title will always include the basic details 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 work for a long established estate agent office in Isleworth where we have witnessed a few flat sales derailed due to short leases. I have been given contradictory information from local Isleworth conveyancing solicitors. Could you shed some light as to whether the owner of a flat can start the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.

An alternative approach is 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.

Can you offer any advice when it comes to finding a Isleworth conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Isleworth conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with two or three firms including non Isleworth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• If the firm is not ALEP accredited then what is the reason?
• What are the legal fees for lease extension work?

Can you provide any advice for leasehold conveyancing in Isleworth from the point of view of expediting the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Isleworth can be reduced if you get in touch lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the buyers lawyers.
• In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Isleworth leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such works. Where you fail to have the paperwork in place do not communicate with the landlord without contacting your solicitor in the first instance.
• Some Isleworth leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
• If there is a history of conflict with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and pay 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 will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to ongoing.
• You believe that you know the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

After months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Isleworth. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

if there is a absentee freeholder or if 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 assess the amount due.

An example of a Lease Extension decision for a Isleworth property 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 affected 1 flat. The unexpired term was 60.45 years.

In relation to leasehold conveyancing in Isleworth what are the most common lease problems?

Leasehold conveyancing in Isleworth is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the property
• Insurance obligations
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.

Leasehold Conveyancing in Isleworth - Examples of Questions you should ask Prior to buying

If a Isleworth lease has less than eighty years it will impact the value of the apartment. Check with your lender that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension at some point and it is worth discovering what this would cost. For most Isleworthlease extensions you would be be obliged to have been the owner of the premises for two years in order to be entitled to carry out a lease extension. Is the freehold reversion owned jointly by the tenants?