Frequently asked questions relating to Seven Kings leasehold conveyancing
I am in need of some leasehold conveyancing in Seven Kings. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and most are in Seven Kings - 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.
I have recently realised that I have 68 years unexpired on my flat in Seven Kings. I need to get lease extension but my freeholder is absent. What are my options?
On the basis that 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 for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. On the whole an enquiry agent would be useful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s disappearance and the application to the County Court covering Seven Kings.
Expecting to exchange soon on a ground floor flat in Seven Kings. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Seven Kings should include some of the following:
- Are pets allowed in the flat?
I am looking at a couple of flats in Seven Kings both have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is generally wise to extend the lease term. It is often difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this field
Can you offer any advice when it comes to appointing a Seven Kings conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Seven Kings conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with several firms including non Seven Kings conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- What volume of lease extensions has the firm carried out in Seven Kings in the last 12 months?
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Seven Kings. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Seven Kings conveyancing firm who can help.
An example of a Lease Extension case for a Seven Kings premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The the unexpired term as at the valuation date was 61.36 years.