Common questions relating to Kilburn leasehold conveyancing
I have recently realised that I have 68 years remaining on my flat in Kilburn. I now wish to extend my lease but my landlord is absent. 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 magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to locate the freeholder. In some cases an enquiry agent may be useful to conduct investigations and to produce an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Kilburn.
I am hoping to exchange soon on a garden flat in Kilburn. Conveyancing lawyers inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Kilburn should include some of the following:
- How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
I am looking at a two flats in Kilburn which have in the region of 50 years left on the lease term. should I be concerned?
There are plenty of short leases in Kilburn. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the value of the lease reduces and results in it becoming more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena
What advice can you give us when it comes to choosing a Kilburn conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for lease extension works (regardless if they are a Kilburn conveyancing practice) 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 talk with two or three firms including non Kilburn conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How many lease extensions has the firm conducted in Kilburn in the last year?
Can you provide any advice for leasehold conveyancing in Kilburn from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Kilburn can be reduced where you appoint lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers.
- Many freeholders or managing agents in Kilburn levy fees for supplying management packs for a leasehold premises. 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 typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Kilburn.
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Kilburn. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Kilburn conveyancing firm who can help.
An example of a Freehold Enfranchisement decision 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 related to 2 flats. The the unexpired residue of the current lease was 70.02 years.