Sample questions relating to North Kensington leasehold conveyancing
My fiance and I may need to sub-let our North Kensington ground floor flat temporarily due to taking a sabbatical. We instructed a North Kensington conveyancing firm in 2004 but they have closed and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?
Even though your last North Kensington conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person in advance of subletting. This means that you cannot sublet in the absence of first obtaining permission. The consent must not not be unreasonably withheld. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in North Kensington. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in North Kensington are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in North Kensington in which case you should be shopping around for a North Kensington conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should report to you on the legal implications.
I am a negotiator for a long established estate agency in North Kensington where we see a number of leasehold sales put at risk due to short leases. I have been given conflicting advice from local North Kensington conveyancing firms. Can you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Can you offer any advice when it comes to choosing a North Kensington conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a North Kensington conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non North Kensington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions has the firm conducted in North Kensington in the last twenty four months?
Completion in due on the disposal of our £175000 maisonette in North Kensington next week. The managing agents has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in North Kensington?
North Kensington conveyancing on leasehold flats nine out of ten times results in administration charges raised by landlords agents :
- Answering pre-exchange questions
- Where consent is required before sale in North Kensington
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in North Kensington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a North Kensington conveyancing firm who can help.
An example of a Lease Extension decision for a North Kensington premises is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case affected 1 flat. The unexpired term was 37.79 years.