Fixed-fee leasehold conveyancing in West Kensington:

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While any conveyancing solicitor can theoretically handle your leasehold conveyancing in West Kensington, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

West Kensington leasehold conveyancing: Q and A’s

I want to rent out my leasehold flat in West Kensington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Even though your last West Kensington conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission from your landlord or other appropriate person in advance of subletting. This means that you cannot sublet without first obtaining permission. Such consent must not not be unreasonably refused ore delayed. If your lease prohibits you from letting out the property you should ask your landlord for their consent.

Looking forward to sign contracts shortly on a ground floor flat in West Kensington. Conveyancing lawyers inform me that they report fully tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in West Kensington should include some of the following:

  • How long the lease is You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark
  • Setting out your legal entitlements in respect of the communal areas in the building.For instance, does the lease grant a right of way over a path or hallways?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • What you can do if a neighbour is in violation of a provision in their lease? For details of the information to be contained in your report on your leasehold property in West Kensington please enquire of your conveyancer in advance of your conveyancing in West Kensington

    • I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in West Kensington. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in West Kensington ?

    Most houses in West Kensington are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in West Kensington so you should seriously consider shopping around for a West Kensington conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.

    I am looking at a two maisonettes in West Kensington which have approximately fifty years remaining on the leases. Will this present a problem?

    A lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

    I inherited a a ground floor purpose built flat in West Kensington. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?

    if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a West Kensington flat 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 affected 1 flat. The the number of years remaining on the existing lease(s) was 37.79 years.

    When it comes to leasehold conveyancing in West Kensington what are the most common lease problems?

    Leasehold conveyancing in West Kensington is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the building
    • Insurance obligations
    • 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 have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Bank of Scotland, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in West Kensington