Questions and Answers: Kensal Green leasehold conveyancing
I would like to sublet my leasehold flat in Kensal Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Kensal Green do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Planning to complete next month on a leasehold property in Kensal Green. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Kensal Green should include some of the following:
- Setting out your legal entitlements in relation to common areas in the block.E.G., does the lease include a right of way over an accessway or hallways?
- Are pets allowed in the flat?
- Whether the lease restricts you from subletting the flat, or working from home
- Whether your lease has a provision for a sinking fund?
- Repair and maintenance of the flat
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
I’m about to sell my ground floor flat in Kensal Green.Conveyancing has not commenced but I have just received a quarterly service charge invoice – Do I pay up?
It best that you discharge 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 management companies 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. This will smooth the conveyancing process.
I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Kensal Green. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Kensal Green ?
The majority of houses in Kensal Green are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in Kensal Green so you should seriously consider shopping around for a Kensal Green conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the estate where the property is part of an estate. Your lawyer should appraise you on the various issues.
I work for a reputable estate agent office in Kensal Green where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received contradictory information from local Kensal Green conveyancing solicitors. Can you shed some light as to whether the seller of a flat can initiate 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having 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 simultaneously with completion of the sale.
Alternatively, it may be possible 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 buyer.
My wife and I have hit a brick wall in negotiating a lease extension in Kensal Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Kensal Green conveyancing firm who can help.
An example of a Lease Extension case for a Kensal Green residence is 85A Chevening Road in August 2013. the Tribunals conclusions resulted in a payment of a premium for the new lease in the sum of £11,211 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 84.34 years.
I purchased a ground floor flat in Kensal Green, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Kensal Green with a long lease are worth £168,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2098
With only 72 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.