Leasehold Conveyancing in West Kensington - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in West Kensington, you will need to chose a conveyancing practitioner with leasehold experience. Whether your lender is to be Santander, Birmingham Midshires or Bradford & Bingley be sure to find a lawyer on their approved list. Find a West Kensington conveyancing lawyer with our search tool

Frequently asked questions relating to West Kensington leasehold conveyancing

I only have 68 years remaining on my lease in West Kensington. I now wish to get lease extension but my landlord is can not be found. What are my options?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you have done all that could be expected to track down the lessor. On the whole a specialist would be useful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing West Kensington.

I am attracted to a two apartments in West Kensington both have about 50 years left on the leases. should I be concerned?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. 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 companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this area

I work for a busy estate agent office in West Kensington where we have experienced a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local West Kensington conveyancing firms. Could you shed some light as to whether the vendor of a flat can instigate the lease extension formalities for the buyer?

As long as 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 can avoid having to sit tight for 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.

Alternatively, it may be possible to agree the lease extension with the freeholder 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.

Do you have any top tips for leasehold conveyancing in West Kensington with the intention of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in West Kensington can be reduced if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ conveyancers.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? West Kensington leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you fail to have the approvals in place you should not contact the landlord without checking with your solicitor first.
  • A minority of West Kensington leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a West Kensington conveyancing firm to help?

    Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the price payable.

    An example of a Lease Extension matter before the tribunal for a West Kensington premises 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 related to 1 flat. The unexpired term was 37.79 years.

    In relation to leasehold conveyancing in West Kensington what are the most frequent lease problems?

    Leasehold conveyancing in West Kensington is not unique. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the premises
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Mortgage Works, and Platform Home Loans Ltd all have express conveyancing instructions 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, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in West Kensington