Helen (my wife) and I may need to let out our Kingsbury garden flat for a while due to a career opportunity. We used a Kingsbury conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

The lease governs the relationship between the landlord and you the flat owner; in particular, it will indicate if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Kingsbury do not contain subletting altogether – such a clause would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

Estate agents have just been given the go-ahead to market my 2 bed apartment in Kingsbury.Conveyancing has not commenced but I have just had a quarterly service charge invoice – should I leave it to the buyer to sort out?

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 management companies will not acknowledge the buyer unless 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 looking at a two flats in Kingsbury both have about forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold apartment in Kingsbury is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of buyers and banks, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kingsbury conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Can you offer any advice when it comes to appointing a Kingsbury conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Kingsbury conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Kingsbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• How experienced is the practice with lease extension legislation?
• Can they put you in touch with client in Kingsbury who can give a testimonial?

I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Kingsbury conveyancing firm to assist?

Most definitely. We are happy to put you in touch with a Kingsbury conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Kingsbury premises is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The unexpired term was 70.25 years.

When it comes to leasehold conveyancing in Kingsbury what are the most common lease defects?

Leasehold conveyancing in Kingsbury is not unique. All leases are unique and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the building
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, The Mortgage Works, and Clydesdale all have express 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 provide security, forcing the purchaser to pull out.

Leasehold Conveyancing in Kingsbury - Sample of Queries before buying

The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees have being in charge if their destiny and notwithstanding that a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants. Its a good idea to discover as much as you can regarding the company managing the building as they will either make your life much easier or uncomfortable. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the communal areas. Enquire of other people what they think of them. In conclusion, find out the dates that the service fees are due to the managing agents and precisely what it includes.