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Frequently asked questions relating to Perivale leasehold conveyancing

I am on look out for some leasehold conveyancing in Perivale. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.

Assuming the lease is registered - and 99.9% are in Perivale - 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 am attracted to a couple of flats in Perivale both have in the region of forty five years remaining on the lease term. should I be concerned?

There are no two ways about it. A leasehold flat in Perivale is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Perivale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold flat in Perivale. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Can you provide any advice for leasehold conveyancing in Perivale from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Perivale can be avoided if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers representatives.
  • In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Perivale leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord consenting to such changes. If you fail to have the consents to hand do not communicate with the landlord without contacting your lawyer before hand.
  • A minority of Perivale 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 put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying 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 purchasers or their solicitors.
  • If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is less than 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • We expect to complete the sale of our £375000 apartment in Perivale in 10 days. The landlords agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Perivale?

    Perivale conveyancing on leasehold apartments more often than not necessitates the purchaser’s lawyer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to do so. They are at liberty levy a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The administration charge required by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.

    I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Perivale conveyancing firm to represent me?

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

    An example of a Lease Extension case for a Perivale residence is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case affected 1 flat. The unexpired term was 74 years.