Examples of recent questions relating to leasehold conveyancing in West Drayton
My fiance and I may need to let out our West Drayton 1st floor flat for a while due to taking a sabbatical. We used a West Drayton conveyancing firm in 2004 but they have since shut and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Notwithstanding that your previous West Drayton conveyancing lawyer is no longer around you can review your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to seek consent via your landlord or other appropriate person prior to subletting. The net result is that you cannot sublet without first obtaining permission. The consent is not allowed to be unreasonably turned down. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in West Drayton. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in West Drayton are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in West Drayton in which case you should be looking for a West Drayton conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.
I am attracted to a couple of flats in West Drayton which have about forty five years unexpired on the leases. Do I need to be concerned?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this area
Can you provide any advice for leasehold conveyancing in West Drayton from the point of view of speeding up the sale process?
- Much of the delay in leasehold conveyancing in West Drayton can be reduced if you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the purchasers’ conveyancers.
- Many landlords or Management Companies in West Drayton levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in West Drayton.
- A minority of West Drayton leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 solicitors.
- If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
- If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Obtaining a replacement share certificate is often a time consuming process and frustrates many a West Drayton home move. Where a new share is needed, do contact the company officers or managing agents (where relevant) for this as soon as possible.
I own a ground-floor 1950’s flat in West Drayton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most definitely. We can put you in touch with a West Drayton conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a West Drayton flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The unexpired lease term was 69 years.
What makes a West Drayton lease defective?
Leasehold conveyancing in West Drayton is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are not included. The following missing provisions could result in a defective lease:
- A provision to repair to or maintain parts of the building
- A duty to insure the building
- A provision for the recovery of money spent for the benefit of another party.
- Maintenance charge proportions which don’t add up to the correct percentage
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Virgin Money, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
I am the registered owner of a basement flat in West Drayton, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in West Drayton with a long lease are worth £256,000. The ground rent is £60 charged once a year. The lease runs out on 21st October 2104
With only 78 years unexpired we estimate the price of your lease extension to be between £10,500 and £12,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.