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

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Examples of recent questions relating to leasehold conveyancing in Kensington

Having had my offer accepted I require leasehold conveyancing in Kensington. Before I set the wheels in motion I would like to find out the unexpired term of the lease.

If the lease is recorded at the land registry - and most are in Kensington - 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 would like to let out my leasehold flat in Kensington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

A lease governs the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Kensington do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Kensington. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Kensington are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Kensington in which case you should be shopping around for a Kensington conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.

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

When appointing a conveyancer for lease extension works (regardless if they are a Kensington conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Kensington conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • What volume of lease extensions have they carried out in Kensington in the last year?
  • What are the legal fees for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Kensington from the perspective of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Kensington can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
    • The majority landlords or managing agents in Kensington charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Kensington.
  • Some Kensington leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you have had conflict with your freeholder or managing agents it is essential that these are settled before the property is 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 settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Kensington. Can we issue an application to the Residential Property Tribunal Service?

    if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to decide the price payable.

    An example of a Lease Extension case for a Kensington property is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case was in relation to 1 flat. The the unexpired residue of the current lease was 37.79 years.

    Other Topics

    Lease Extensions in Kensington