Fixed-fee leasehold conveyancing in Osterley:

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Osterley, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Questions and Answers: Osterley leasehold conveyancing

I am in need of some leasehold conveyancing in Osterley. Before I get started I require certainty as to the unexpired term of the lease.

If the lease is registered - and almost all are in Osterley - 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.

Planning to complete next month on a ground floor flat in Osterley. Conveyancing lawyers have said that they report fully within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Osterley should include some of the following:

  • The length of the lease term You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Will you be prohibited or prevented from having pets in the property?
  • You must be told what counts as a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • 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.
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? For details of the information to be included in your report on your leasehold property in Osterley please ask your conveyancer in advance of your conveyancing in Osterley

    • I am a negotiator for a long established estate agent office in Osterley where we see a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Osterley conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as 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.

    What are your top tips when it comes to choosing a Osterley conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Osterley conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Osterley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be of use:

    • If they are not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Osterley who can give a testimonial?

    • I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Osterley conveyancing firm to help?

    Most certainly. We are happy to put you in touch with a Osterley conveyancing firm who can help.

    An example of a Lease Extension decision for a Osterley premises is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The remaining number of years on the lease was 60.45 years.

    What are the frequently found defects that you encounter in leases for Osterley properties?

    There is nothing unique about leasehold conveyancing in Osterley. Most leases are unique and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain parts of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Leeds Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Osterley