Experts for Leasehold Conveyancing in Westminster

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Westminster leasehold conveyancing Example Support Desk Enquiries

I am in need of some leasehold conveyancing in Westminster. Before I get started I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and almost all are in Westminster - then the leasehold title will always include the short particulars 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 am looking at a two flats in Westminster which have about forty five years remaining on the lease term. Will this present a problem?

There is no doubt about it. A leasehold flat in Westminster is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. The majority of purchasers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Westminster conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold house in Westminster. Am I liable to pay service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What advice can you give us when it comes to choosing a Westminster conveyancing practice to deal with our lease extension?

If you are instructing a solicitor for lease extension works (regardless if they are a Westminster conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Westminster conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions might be helpful:

  • How familiar is the practice with lease extension legislation?
  • What are the charges for lease extension conveyancing?

    • Do you have any top tips for leasehold conveyancing in Westminster with the purpose of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Westminster can be bypassed if you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Westminster state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you dont have the paperwork to hand do not contact the landlord without checking with your conveyancer first.
  • A minority of Westminster leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual 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 the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Arranging a replacement share certificate is often a time consuming formality and delays many a Westminster conveyancing deal. Where a reissued share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore essential at an as soon as possible that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Westminster. Can we issue an application to the Residential Property Tribunal Service?

    Absolutely. We are happy to put you in touch with a Westminster conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Westminster property is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired lease term was 56 years.

    Other Topics

    Lease Extensions in Westminster