Fixed-fee leasehold conveyancing in Queen's Park:

Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Queen's Park, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Queen's Park

I wish to let out my leasehold flat in Queen's Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Your lease governs the relationship between the freeholder and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. The majority of leases in Queen's Park do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.

I only have 72 years remaining on my flat in Queen's Park. I now wish to extend my lease but my freeholder is absent. What options are available to me?

If you meet the appropriate requirements, 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 enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. On the whole an enquiry agent should be useful to conduct investigations and prepare an expert document to be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Queen's Park.

I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Queen's Park. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

Most houses in Queen's Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Queen's Park so you should seriously consider looking for a Queen's Park conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your conveyancer should advise you fully on all the issues.

I am tempted by the attractive purchase price for a two maisonettes in Queen's Park both have in the region of 50 years unexpired on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Queen's Park is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of buyers and lenders, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 a residence 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 Queen's Park 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.

Do you have any top tips for leasehold conveyancing in Queen's Park with the purpose of speeding up the sale process?

  • A significant proportion of the delay in leasehold conveyancing in Queen's Park can be bypassed where you instruct lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ solicitors.
  • Many landlords or managing agents in Queen's Park charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Queen's Park.
  • If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Queen's Park state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the approvals to hand do not contact the landlord without checking with your conveyancer first.
  • A minority of Queen's Park leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Obtaining a duplicate share certificate is often a time consuming process and frustrates many a Queen's Park conveyancing deal. Where a reissued share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this sooner rather than later.

  • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Queen's Park conveyancing firm to help?

    if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the amount due.

    An example of a Freehold Enfranchisement case for a Queen's Park property is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case affected 2 flats. The the number of years remaining on the existing lease(s) was 70.02 years.

    Other Topics

    Lease Extensions in Queen's Park