Kingston Vale leasehold conveyancing: Q and A’s
I only have Sixty One years left on my lease in Kingston Vale. I now wish to get lease extension but my freeholder is absent. What options are available to me?
If 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 enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the lessor. On the whole a specialist should be useful to conduct investigations and to produce an expert document to be used as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Kingston Vale.
My wife and I purchased a leasehold flat in Kingston Vale. Conveyancing and Platform Home Loans Ltd mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Kingston Vale who previously acted has long since retired.Do I pay?
First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Kingston Vale conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What are your top tips when it comes to appointing a Kingston Vale conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Kingston Vale conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you talk 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 familiar is the practice with lease extension legislation?
Can you provide any top tips for leasehold conveyancing in Kingston Vale with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Kingston Vale can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers solicitors.
- In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Kingston Vale leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Where you dont have the paperwork to hand do not contact the landlord without contacting your conveyancer in the first instance.
Notwithstanding our best efforts, we have been unsuccessful in negotiating a lease extension in Kingston Vale. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Freehold Enfranchisement decision for a Kingston Vale residence 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 affected 3 flats. The unexpired lease term was 66.25 years.
What makes a Kingston Vale lease unmortgageable?
There is nothing unique about leasehold conveyancing in Kingston Vale. All leases are individual and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
- A provision to repair to or maintain parts of the property
- A duty to insure the building
- 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 will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, The Royal Bank of Scotland, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.