Examples of recent questions relating to leasehold conveyancing in Shepherd's Bush
Harry (my fiance) and I may need to let out our Shepherd's Bush garden flat for a while due to a career opportunity. We used a Shepherd's Bush conveyancing practice in 2002 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Shepherd's Bush do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I only have Fifty years left on my lease in Shepherd's Bush. I now want to extend my lease but my freeholder is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations a specialist should be useful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Shepherd's Bush.
I am tempted by the attractive purchase price for a couple of apartments in Shepherd's Bush both have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field
I've recently bought a leasehold flat in Shepherd's Bush. Do I have any liability for service charges relating to a period prior to completion of my purchase?
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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Do you have any top tips for leasehold conveyancing in Shepherd's Bush with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Shepherd's Bush can be reduced where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers representatives.
- A minority of Shepherd's Bush leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 buyers or their lawyers.
We have reached the end of our tether in trying to purchase the freehold in Shepherd's Bush. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the amount due.
An example of a Freehold Enfranchisement decision for a Shepherd's Bush residence is 82 Minford Gardens in February 2009. The Tribunal determined that the enfranchisement price was £37,341 This case related to 2 flats. The the unexpired residue of the current lease was 72.92 years.