Recently asked questions relating to Kingston Vale leasehold conveyancing
Jane (my partner) and I may need to sub-let our Kingston Vale basement flat for a while due to taking a sabbatical. We instructed a Kingston Vale conveyancing practice in 2001 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Kingston Vale do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Estate agents have just been given the go-ahead to market my basement flat in Kingston Vale.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should 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. This will smooth the conveyancing process.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have since found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Kingston Vale. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Kingston Vale are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Kingston Vale in which case you should be shopping around for a Kingston Vale conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer will report to you on the legal implications.
I own a leasehold flat in Kingston Vale. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Kingston Vale who acted for me is not around.What should I do?
First contact the Land Registry to be sure that this person is indeed the new freeholder. It is not necessary to incur the fees of a Kingston Vale conveyancing firm to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a two flats in Kingston Vale which have about fifty years remaining on the lease term. should I be concerned?
There are no two ways about it. A leasehold flat in Kingston Vale is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most purchasers and lenders, leases with under 75 years become less and less marketable. On a more upbeat 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 Kingston Vale 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 any new 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.
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in Kingston Vale. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Kingston Vale conveyancing firm who can help.
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 related to 3 flats. The the number of years remaining on the existing lease(s) was 66.25 years.