Guaranteed fixed fees for Leasehold Conveyancing in Knightsbridge

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Leasehold conveyancing in Knightsbridge is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Knightsbridge and next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Examples of recent questions relating to leasehold conveyancing in Knightsbridge

Due to sign contracts shortly on a ground floor flat in Knightsbridge. Conveyancing solicitors inform me that they report fully on Monday. What should I be looking out for?

Your report on title for your leasehold conveyancing in Knightsbridge should include some of the following:

  • You should be sent a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
  • The total extent of the premises. This will be the flat itself but could also incorporate a loft or cellar if appropriate.
  • Does the lease prevent you from letting out the flat, or working from home
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be contained in your report on your leasehold property in Knightsbridge please enquire of your lawyer in ahead of your conveyancing in Knightsbridge

    • I have just appointed agents to market my ground floor apartment in Knightsbridge.Conveyancing is yet to be initiated but I have just had a quarterly service charge invoice – what should I do?

    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 managing agents 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 tempted by the attractive purchase price for a two flats in Knightsbridge which have about 50 years unexpired on the leases. Will this present a problem?

    There are plenty of short leases in Knightsbridge. The lease is a legal document that entitles you to use the property for a period of time. As a lease gets shorter the saleability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

    What advice can you give us when it comes to finding a Knightsbridge conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for lease extension works (regardless if they are a Knightsbridge conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Knightsbridge conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

    • Can they put you in touch with client in Knightsbridge who can give a testimonial?
  • What are the charges for lease extension conveyancing?

    • Do you have any advice for leasehold conveyancing in Knightsbridge with the aim of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Knightsbridge can be avoided if you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the buyers conveyancers.
    • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Knightsbridge state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord approving such alterations. Where you dont have the consents to hand do not contact the landlord without checking with your lawyer first.
  • A minority of Knightsbridge leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a duplicate share certificate is often a lengthy formality and slows down many a Knightsbridge conveyancing deal. Where a reissued share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • My wife and I have hit a brick wall in negotiating a lease extension in Knightsbridge. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Most definitely. We can put you in touch with a Knightsbridge conveyancing firm who can help.

    An example of a Lease Extension decision for a Knightsbridge residence is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case affected 1 flat. The the unexpired residue of the current lease was 13.33 years.

    Other Topics

    Lease Extensions in Knightsbridge