Questions and Answers: West Kensington leasehold conveyancing
I am intending to rent out my leasehold apartment in West Kensington. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your last West Kensington conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is permitted. There may be a precondition that you must obtain permission from your landlord or some other party before subletting. This means you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only 72 years remaining on my lease in West Kensington. I am keen to get lease extension but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you have used your best endeavours to locate the freeholder. On the whole a specialist may be helpful to try and locate and prepare a report which can be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court covering West Kensington.
My wife and I purchased a leasehold house in West Kensington. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in West Kensington who acted for me is not around.Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the new freeholder. You do not need to instruct a West Kensington conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am looking at a two maisonettes in West Kensington both have in the region of forty five years remaining on the lease term. Do I need to be concerned?
A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease deteriorate and it becomes more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. 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 enfranchisement can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area
What advice can you give us when it comes to finding a West Kensington conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a West Kensington conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non West Kensington conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the practice with lease extension legislation?
- If they are not ALEP accredited then what is the reason?
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a West Kensington conveyancing firm to represent me?
Most certainly. We are happy to put you in touch with a West Kensington conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a West Kensington residence is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case was in relation to 1 flat. The the unexpired term as at the valuation date was 37.79 years.
I invested in buying a 2 bed flat in West Kensington, conveyancing having been completed 5 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in West Kensington with an extended lease are worth £267,000. The ground rent is £65 invoiced every year. The lease runs out on 21st October 2098
With 72 years unexpired we estimate the price of your lease extension to range between £13,300 and £15,400 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.