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Frequently asked questions relating to Vauxhall leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Vauxhall. Before diving in I require certainty as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Vauxhall - 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.

Having checked my lease I have discovered that there are only Fifty years unexpired on my lease in Vauxhall. I now want to get lease extension but my landlord is can not be found. What options are available to me?

On the basis that you qualify, 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 enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. On the whole a specialist may be helpful to carry out a search and prepare a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Vauxhall.

I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Vauxhall. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Vauxhall ?

Most houses in Vauxhall are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are purchasing in Vauxhall so you should seriously consider shopping around for a Vauxhall conveyancing practitioner 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 with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer will report to you on the legal implications.

I am looking at a couple of maisonettes in Vauxhall both have in the region of forty five years left on the lease term. Will this present a problem?

There are no two ways about it. A leasehold flat in Vauxhall is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and banks, leases with less than eighty years become less and less marketable. 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 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 premises 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 Vauxhall 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 any new 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 am a negotiator for a busy estate agency in Vauxhall where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Vauxhall conveyancing solicitors. Please can you clarify 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

I am the registered owner of a two-bedroom flat in Vauxhall. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?

Most definitely. We can put you in touch with a Vauxhall conveyancing firm who can help.

An example of a Lease Extension case for a Vauxhall property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The remaining number of years on the lease was 56 years.

Other Topics

Lease Extensions in Vauxhall