Leasehold Conveyancing in Kensal Green - Get a Quote from the leasehold experts approved by your lender

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Kensal Green leasehold conveyancing: Q and A’s

Having had my offer accepted I require leasehold conveyancing in Kensal Green. Before I get started I would like to find out the remaining lease term.

If the lease is recorded at the land registry - and 99.9% are in Kensal Green - 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.

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

If you are instructing a property lawyer for lease extension works (regardless if they are a Kensal Green conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non Kensal Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be useful:

  • Can they put you in touch with client in Kensal Green who can give a testimonial?
  • What are the legal fees for lease extension conveyancing?

  • Do you have any top tips for leasehold conveyancing in Kensal Green from the point of view of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Kensal Green can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers conveyancers.
    • Many landlords or managing agents in Kensal Green levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Kensal Green.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may need to swallow your pride 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 particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than ongoing.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate is often a time consuming process and slows down many a Kensal Green conveyancing transaction. If a duplicate share is required, you should approach the company director and secretary or managing agents (if applicable) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • Completion in due on the disposal of our £225000 apartment in Kensal Green in 10 days. The management company has quoted £312 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Kensal Green?

    Kensal Green conveyancing on leasehold maisonettes usually involves fees being raised by management companies :

    • Addressing conveyancing due diligence enquiries
    • Where consent is required before sale in Kensal Green
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Kensal Green leasehold property is £350. For Kensal Green conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

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

    Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the premium.

    An example of a Lease Extension matter before the tribunal for a Kensal Green flat 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 related to 1 flat. The the number of years remaining on the existing lease(s) was 84.34 years.

    What are the frequently found problems that you see in leases for Kensal Green properties?

    Leasehold conveyancing in Kensal Green is not unique. All leases is drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the property
    • A duty to insure the building
    • 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 can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Virgin Money, and Barclays Direct 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 does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.