Top Five Questions relating to Neasden leasehold conveyancing
I am in need of some leasehold conveyancing in Neasden. Before I get started I would like to find out the unexpired term of the lease.
If the lease is registered - and most are in Neasden - then the leasehold title will always include the basic details 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.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Neasden. I now wish to extend my lease but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the landlord. On the whole an enquiry agent may be useful to carry out a search and prepare an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Neasden.
Estate agents have just been given the go-ahead to market my ground floor flat in Neasden.Conveyancing is yet to be initiated but I have just had a half-yearly service charge invoice – Do I pay up?
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. Having a clear account will assist your cause and will leave you no worse off financially.
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 just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Neasden. Conveyancing advisers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Neasden ?
Most houses in Neasden 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. We note that you are purchasing in Neasden so you should seriously consider looking for a Neasden conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your conveyancer should appraise you on the various issues.
Can you offer any advice when it comes to finding a Neasden conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Neasden conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Neasden 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:
- How experienced is the firm with lease extension legislation?
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Neasden conveyancing firm to act on my behalf?
You certainly can. We are happy to put you in touch with a Neasden conveyancing firm who can help.
An example of a Lease Extension decision for a Neasden property is 12 Deacon Road in November 2012. the premium to be paid for the grant of the new lease was the sum of £31 ,635.00 (Thirty-One thousand and six hundred and thirty-five Pounds). The matter was then returned to the Willesden County Court for the completion of the grant of the new lease in substitution for the existing lease on payment into court the sum of £31,635.00 less the sum of £2,890.20 assessed costs incurred by the leaseholder. Thus the net sum of £28,744.80 was to be paid into court. This case related to 1 flat. The remaining number of years on the lease was 61.98 years.