Common questions relating to West Hendon leasehold conveyancing
My husband and I may need to let out our West Hendon ground floor flat for a while due to a career opportunity. We used a West Hendon conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease permits subletting. How do we find out?
Even though your last West Hendon conveyancing solicitor is not around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or other appropriate person before subletting. This means that you cannot sublet in the absence of first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.
Expecting to exchange soon on a basement flat in West Hendon. Conveyancing lawyers inform me that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in West Hendon should include some of the following:
- The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I have just appointed agents to market my garden flat in West Hendon.Conveyancing has not commenced but I have just received a yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should 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 attracted to a couple of apartments in West Hendon which have approximately fifty years left on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As the lease shortens the value of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea 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 unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this area
After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in West Hendon. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.
An example of a Lease Extension decision for a West Hendon property 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 was in relation to 1 flat. The the unexpired residue of the current lease was 71 years.
When it comes to leasehold conveyancing in West Hendon what are the most common lease problems?
There is nothing unique about leasehold conveyancing in West Hendon. Most leases are individual and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:
- Repairing obligations to or maintain parts of the premises
- 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 will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Norwich and Peterborough Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
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