Common questions relating to Kew leasehold conveyancing
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues buying a leasehold house in Kew. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Kew are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can help the conveyancing process. It is clear that you are buying in Kew so you should seriously consider looking for a Kew conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor will advise you fully on all the issues.
I own a leasehold house in Kew. Conveyancing and Chelsea Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Kew who acted for me is not around.Do I pay?
First contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Kew conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am a negotiator for a busy estate agent office in Kew where we see a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local Kew conveyancing firms. Could you clarify whether the owner of a flat can start the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 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 disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Can you offer any advice when it comes to appointing a Kew conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Kew conveyancing practice) it is essential 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 Kew conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
- What are the costs for lease extension work?
Can you provide any top tips for leasehold conveyancing in Kew with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Kew can be reduced where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold information needed by the buyers solicitors.
- Many landlords or managing agents in Kew charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Kew.
- Some Kew leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a flat where there is an ongoing 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 are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
- You believe that you know the number of years remaining on your lease but it would be wise to double-check via your lawyers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important 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 premises on the market for sale.
My wife and I have hit a brick wall in seeking a lease extension in Kew. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Kew conveyancing firm who can help.
An example of a Lease Extension case for a Kew premises is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case affected 1 flat. The the unexpired term as at the valuation date was 68.34 years.
Kew Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
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How is the lease structured?
Are any of leasehold owners in dispute over their service charge liability?