Recently asked questions relating to Kensington leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Kensington. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% 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 have recently realised that I have Sixty One years remaining on my lease in Kensington. I am keen to extend my lease but my freeholder 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 submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to locate the landlord. In some cases a specialist may be helpful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering Kensington.
I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Kensington. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Kensington are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Kensington in which case you should be looking for a Kensington conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’spermission to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.
What advice can you give us when it comes to appointing a Kensington conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Kensington conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested 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 useful:
- How experienced is the practice with lease extension legislation?
Do you have any advice for leasehold conveyancing in Kensington with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Kensington can be reduced where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers lawyers.
- The majority freeholders or managing agents in Kensington levy fees for supplying management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Kensington.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Kensington conveyancing firm to help?
You certainly can. We can put you in touch with a Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal 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 affected 1 flat. The the unexpired residue of the current lease was 37.79 years.