Frequently asked questions relating to Kilburn leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in Kilburn. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
If the lease is registered - and most are in Kilburn - 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.
Frank (my husband) and I may need to sub-let our Kilburn basement flat temporarily due to taking a sabbatical. We instructed a Kilburn conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Kilburn conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining consent. Such consent is not allowed to be unreasonably withheld. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Estate agents have just been given the go-ahead to market my garden apartment in Kilburn.Conveyancing is yet to be initiated but I have just received a yearly service charge invoice – Do I pay up?
The sensible thing to do is discharge the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am tempted by the attractive purchase price for a couple of maisonettes in Kilburn which have in the region of fifty years left on the lease term. Will this present a problem?
A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease deteriorate and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area
I am employed by a long established estate agency in Kilburn where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Kilburn conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the buyer?
As long as 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 need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Kilburn. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or if 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 make a decision on the sum to be paid.
An example of a Freehold Enfranchisement case for a Kilburn flat is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case affected 2 flats. The the unexpired term as at the valuation date was 70.02 years.
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