Common questions relating to West Brompton leasehold conveyancing
I am on look out for some leasehold conveyancing in West Brompton. Before I set the wheels in motion I want to be sure as to the unexpired term of the lease.
If the lease is registered - and most are in West Brompton - 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.
My husband and I may need to sub-let our West Brompton ground floor flat temporarily due to taking a sabbatical. We instructed a West Brompton conveyancing firm in 2001 but they have closed and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
Even though your previous West Brompton conveyancing solicitor is not around you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain consent via your landlord or some other party prior to subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in West Brompton. I now want to extend my lease but my landlord is missing. What options are available to me?
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 for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the freeholder. On the whole an enquiry agent would be helpful to try and locate and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court covering West Brompton.
I am attracted to a two apartments in West Brompton both have about forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease decreases and it becomes more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field
What advice can you give us when it comes to appointing a West Brompton conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a West Brompton conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non West Brompton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be useful:
- How many lease extensions have they conducted in West Brompton in the last twenty four months?
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a West Brompton conveyancing firm to act on my behalf?
Absolutely. We can put you in touch with a West Brompton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a West Brompton residence is 5 Wetherby Gardens in June 2014. the Tribunal concluded that the price to be paid for the freehold of the property was £2,369,452. This case related to 5 flats. The remaining number of years on the lease was 38.98 years.