Kidbrooke leasehold conveyancing Example Support Desk Enquiries
Looking forward to complete next month on a basement flat in Kidbrooke. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Kidbrooke should include some of the following:
- Do you need to have carpet in the flat or are you allowed wood flooring?
I work for a reputable estate agency in Kidbrooke where we have witnessed a few leasehold sales derailed due to short leases. I have been given conflicting advice from local Kidbrooke conveyancing solicitors. Could you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible 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.
What advice can you give us when it comes to choosing a Kidbrooke conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Kidbrooke conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Kidbrooke conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the firm with lease extension legislation?
Can you provide any advice for leasehold conveyancing in Kidbrooke with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Kidbrooke can be bypassed if you appoint lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers representatives.
- If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Most leases in Kidbrooke state that internal structural alterations or addition of wooden flooring calls for a licence issued by the Landlord approving such works. If you fail to have the consents to hand you should not contact the landlord without checking with your solicitor first.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Kidbrooke conveyancing firm to help?
Most definitely. We can put you in touch with a Kidbrooke conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Kidbrooke flat is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case was in relation to 3 flats. The the unexpired residue of the current lease was 69.05 years.
What are the common problems that you witness in leases for Kidbrooke properties?
There is nothing unique about leasehold conveyancing in Kidbrooke. Most leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- 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
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.