Swiss Cottage leasehold conveyancing Example Support Desk Enquiries
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Swiss Cottage. I need to get lease extension but my landlord is absent. What are my options?
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 mean that your lease can be extended by the magistrate. However, you will be required to prove that you have done all that could be expected to locate the landlord. For most situations a specialist would be useful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on devolving into the landlord’s disappearance and the application to the County Court covering Swiss Cottage.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Swiss Cottage. Conveyancing advisers have not yet been instructed. Will they explain the issues?
The majority of houses in Swiss Cottage are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are buying in Swiss Cottage so you should seriously consider looking for a Swiss Cottage conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I am looking at a two apartments in Swiss Cottage which have in the region of forty five years left on the leases. Will this present a problem?
There are plenty of short leases in Swiss Cottage. The lease is a right to use the premises for a period of time. As a lease shortens the value of the lease decreases and results in it becoming more costly to acquire a lease extension. 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 lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this field
I am employed by a busy estate agent office in Swiss Cottage where we have witnessed a few leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Swiss Cottage conveyancing firms. Please can you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
If all goes to plan we aim to complete the sale of our £350000 apartment in Swiss Cottage next week. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in Swiss Cottage?
Swiss Cottage conveyancing on leasehold apartments normally necessitates fees being levied by freeholders :
- Addressing conveyancing due diligence enquiries
- Where consent is required before sale in Swiss Cottage
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
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 Swiss Cottage conveyancing firm to assist?
Absolutely. We are happy to put you in touch with a Swiss Cottage conveyancing firm who can help.
An example of a Lease Extension case for a Swiss Cottage premises is First Floor Flat 20 Fitzjohns Avenue in July 2014. the Tribunal decided that the premiums to be paid for new leases in respect of the Raised Ground Floor Flat and the First Floor Flat were to be calculated as: Raised Ground Floor: £765,175.14 First Floor: £601,617.77 This case related to 2 flats. The the unexpired term as at the valuation date was 16.83 and 16.43.
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