West Hampstead leasehold conveyancing: Q and A’s
My wife and I may need to let out our West Hampstead garden flat for a while due to a career opportunity. We instructed a West Hampstead conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous West Hampstead conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent via your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I have just appointed agents to market my 2 bed flat in West Hampstead.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly service charge invoice – what should I do?
It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in West Hampstead. Conveyancing advisers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in West Hampstead ?
The majority of houses in West Hampstead are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in West Hampstead so you should seriously consider looking for a West Hampstead conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
I am employed by a reputable estate agency in West Hampstead where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local West Hampstead conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that 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. This means that the buyer 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 has to be done before, or at the same time as completion of the sale.
An alternative approach is 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 buyer.
What advice can you give us when it comes to finding a West Hampstead conveyancing practice to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a West Hampstead conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non West Hampstead conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:
- How familiar is the practice with lease extension legislation?
- How many lease extensions has the firm completed in West Hampstead in the last twenty four months?
My wife and I have hit a brick wall in negotiating a lease extension in West Hampstead. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the price payable.
An example of a Lease Extension decision for a West Hampstead premises is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case related to 1 flat.
Leasehold Conveyancing in West Hampstead - A selection of Queries Prior to buying
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What is the length of the lease?