Sample questions relating to Kingston Vale leasehold conveyancing
Planning to complete next month on a garden flat in Kingston Vale. Conveyancing solicitors assured me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kingston Vale should include some of the following:
- The total extent of the premises. This will be the property itself but could also include a loft or cellar if appropriate.
- Does the lease prevent you from subletting the property, or working from home
- You need to be told what counts as a Nuisance in the lease
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- Responsibility for repairing the window frames
- What options are open to you if a neighbour is in violation of a provision in their lease?
I am attracted to a couple of maisonettes in Kingston Vale both have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As a lease shortens the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional help from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold house in Kingston Vale. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I work for a long established estate agency in Kingston Vale where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Kingston Vale 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 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 wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, 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 buyer.
What advice can you give us when it comes to choosing a Kingston Vale conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Kingston Vale conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Kingston Vale conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
- If the firm is not ALEP accredited then what is the reason?
I am the proprietor of a ground floor flat in Kingston Vale. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Kingston Vale conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Kingston Vale property is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The the number of years remaining on the existing lease(s) was 66.25 years.
I purchased a garden flat in Kingston Vale, conveyancing formalities finalised in 2008. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Kingston Vale with a long lease are worth £245,000. The ground rent is £55 yearly. The lease ceases on 21st October 2101
With only 75 years unexpired the likely cost is going to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.