Questions and Answers: White City leasehold conveyancing
I am on look out for some leasehold conveyancing in White City. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and 99.9% are in White City - then the leasehold title will always include the basic details 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.
Looking forward to complete next month on a ground floor flat in White City. Conveyancing lawyers inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in White City should include some of the following:
- Setting out your legal entitlements in relation to the communal areas in the building.E.G., does the lease include a right of way over an accessway or staircase?
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in White City. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in White City ?
Most houses in White City are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in White City so you should seriously consider shopping around for a White City conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I am employed by a reputable estate agent office in White City where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local White City conveyancing solicitors. Can you confirm whether the vendor of a flat can start the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with 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.
Completion in due on our sale of a £400000 flat in White City next Friday . The landlords agents has quoted £408 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in White City?
White City conveyancing on leasehold apartments nine out of ten times results in fees being raised by managing agents :
- Addressing pre-contract enquiries
- Where consent is required before sale in White City
- Supplying insurance information
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
I am the proprietor of a second floor flat in White City. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a White City conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a White City premises is 23 & 23A Collingbourne Road in June 2013. Tribunal was dealing with the assessment of the value of the freehold reversion and determination of the terms of the acquisition pursuant to an Order of District Judge Lightman dated 25 February 2013 vesting the freehold interest in the property in the applicant. The tribunal assessed the price of the freehold (to which any arrears or other sums due to the missing landlord under the leases should be added) at £81,638. This case was in relation to 2 flats. The unexpired term was 64.5 years.