Top Five Questions relating to West Hendon leasehold conveyancing
Having had my offer accepted I require leasehold conveyancing in West Hendon. Before diving in I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in West Hendon - then the leasehold title will always include the basic details 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 today plan to offer on a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in West Hendon. Conveyancing advisers have are about to be appointed. Will they explain the issues?
The majority of houses in West Hendon are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in West Hendon in which case you should be shopping around for a West Hendon conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
I work for a busy estate agent office in West Hendon where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local West Hendon conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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 need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with 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.
What are your top tips when it comes to choosing a West Hendon conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a West Hendon conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non West Hendon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
Do you have any top tips for leasehold conveyancing in West Hendon from the perspective of saving time on the sale process?
- Much of the delay in leasehold conveyancing in West Hendon can be avoided if you instruct lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers solicitors.
- Many freeholders or managing agents in West Hendon levy fees for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in West Hendon.
I have given up trying to reach an agreement for a lease extension in West Hendon. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a West Hendon conveyancing firm who can help.
An example of a Lease Extension decision for a West Hendon premises is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case affected 1 flat. The remaining number of years on the lease was 71 years.