West Harrow leasehold conveyancing: Q and A’s
I would like to rent out my leasehold flat in West Harrow. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease governs relations between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in West Harrow do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in West Harrow. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in West Harrow ?
The majority of houses in West Harrow are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in West Harrow in which case you should be looking for a West Harrow 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 number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
I am attracted to a two maisonettes in West Harrow both have about 50 years left on the lease term. should I be concerned?
There are plenty of short leases in West Harrow. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this area
I am a negotiator for a busy estate agent office in West Harrow where we have experienced a number of flat sales jeopardised due to short leases. I have received inconsistent advice from local West Harrow conveyancing solicitors. Can you confirm whether the vendor of a flat can start 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 need not have to wait 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 disposal of the property.
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.
Can you provide any advice for leasehold conveyancing in West Harrow with the intention of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in West Harrow can be avoided if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
- The majority landlords or managing agents in West Harrow charge for providing management packs for a leasehold property. You or your lawyers should find out 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 receive management information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in West Harrow.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a West Harrow conveyancing firm to act on my behalf?
Most certainly. We are happy to put you in touch with a West Harrow conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Harrow premises is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case related to 1 flat. The the number of years remaining on the existing lease(s) was 75.25 years.