I am on look out for some leasehold conveyancing in Wembley Park. Before diving in I require certainty as to the remaining lease term.

If the lease is recorded at the land registry - and most are in Wembley Park - then the leasehold title will always include the short particulars 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 would like to rent out my leasehold flat in Wembley Park. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?

Even though your last Wembley Park conveyancing lawyer is no longer available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must seek consent from your landlord or other appropriate person before subletting. The net result is that you cannot sublet without prior permission. The consent is not allowed to be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I have recently realised that I have 68 years unexpired on my lease in Wembley Park. I am keen to get lease extension but my freeholder is missing. 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 mean that your lease can be extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the landlord. In some cases a specialist would be helpful to conduct investigations and to produce 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 in relation to devolving into the landlord’s absence and the application to the County Court overseeing Wembley Park.

Last month I purchased a leasehold property in Wembley Park. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).

I am employed by a reputable estate agent office in Wembley Park where we have experienced a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Wembley Park conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension formalities for the buyer?

As long as the seller has been the owner 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 proposed purchaser can avoid having to sit tight for 2 years to extend their lease. 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.

Alternatively, it may be possible 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 proprietor of a first flat in Wembley Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?

You certainly can. We can put you in touch with a Wembley Park conveyancing firm who can help.

An example of a Lease Extension decision for a Wembley Park property is Ground Floor Flat 69 Clifton Avenue in March 2012. the Tribunal determined that the premium payable for the new lease was £5,932 This case was in relation to 1 flat. The the unexpired term as at the valuation date was 76.06 years.

Wembley Park Leasehold Conveyancing - Examples of Questions you should consider before Purchasing

The prefered form of lease structure is where the freehold title is owned by the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and although a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants. It would be prudent to find out as much as possible concerning the company managing the building as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the common parts. Ask other people whether they are happy with their management. In conclusion, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely what it includes. How much is the yearly service fee and ground rent?