Experts for Leasehold Conveyancing in Knightsbridge

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When it comes to leasehold conveyancing in Knightsbridge, you will need to appoint a conveyancing practitioner with leasehold experience. Whether your lender is to be Clydesdale , Birmingham Midshires or Nationwide make sure you choose a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Knightsbridge leasehold conveyancing

I am in need of some leasehold conveyancing in Knightsbridge. Before diving in I want to be sure as to the remaining lease term.

Assuming the lease is recorded at the land registry - and 99.9% are in Knightsbridge - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I have just appointed agents to market my ground floor flat in Knightsbridge.Conveyancing solicitors are to be appointed soon but I have just received a quarterly service 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 managing agents will not acknowledge the buyer until 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 reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Knightsbridge. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?

Most houses in Knightsbridge are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Knightsbridge so you should seriously consider shopping around for a Knightsbridge conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.

I am looking at a couple of flats in Knightsbridge both have approximately 50 years unexpired on the lease term. 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 marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field

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

  • A significant proportion of the frustration in leasehold conveyancing in Knightsbridge can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start 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 consent? Have you, for example installed wooden flooring? Knightsbridge leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence from the Landlord consenting to such alterations. Should you dont have the approvals in place do not communicate with the landlord without checking with your conveyancer first.
  • A minority of Knightsbridge leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should make sure that you have the original share certificate. Organising a duplicate share certificate can be a lengthy formality and delays many a Knightsbridge conveyancing deal. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years remaining on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an as soon as possible 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 seeking a lease extension in Knightsbridge. Can this matter be resolved via the Leasehold Valuation Tribunal?

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

    An example of a Lease Extension case 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 related to 1 flat. The remaining number of years on the lease was 13.33 years.

    Other Topics

    Lease Extensions in Knightsbridge