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Questions and Answers: Kenley leasehold conveyancing

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

Assuming the lease is registered - and almost all are in Kenley - 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 have recently realised that I have 72 years left on my lease in Kenley. I now want to get lease extension but my landlord is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to track down the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare a report which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court covering Kenley.

I have just started marketing my 2 bed apartment in Kenley.Conveyancing lawyers have not yet been instructed but I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

The sensible thing to do is pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am attracted to a two maisonettes in Kenley both have approximately fifty years left on the leases. Will this present a problem?

There are no two ways about it. A leasehold flat in Kenley is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and banks, leases with less than 75 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 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 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 Kenley 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 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.

Can you provide any top tips for leasehold conveyancing in Kenley from the point of view of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Kenley can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers conveyancers.
  • The majority freeholders or Management Companies in Kenley levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Kenley.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Kenley state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such works. If you dont have the approvals in place do not communicate with the landlord without checking with your conveyancer before hand.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than unsettled.
  • You believe that you know the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 75 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Kenley conveyancing firm to act on my behalf?

    Most definitely. We can put you in touch with a Kenley conveyancing firm who can help.

    An example of a Freehold Enfranchisement case for a Kenley residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The the number of years remaining on the existing lease(s) was 78.32 years.

    Other Topics

    Lease Extensions in Kenley