Fixed-fee leasehold conveyancing in Willesden:

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Any conveyancing practice can theoretically handle your leasehold conveyancing in Willesden, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Frequently asked questions relating to Willesden leasehold conveyancing

I have just appointed agents to market my ground floor flat in Willesden.Conveyancing is yet to be initiated but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

I am tempted by the attractive purchase price for a two apartments in Willesden which have in the region of 50 years unexpired on the leases. should I be concerned?

There are plenty of short leases in Willesden. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and it becomes more costly to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

I am a negotiator for a long established estate agent office in Willesden where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Willesden conveyancing firms. Could you shed some light as to whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?

Provided that 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 proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.

An alternative approach is 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 purchaser.

What are your top tips when it comes to choosing a Willesden conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Willesden conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Willesden conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then what is the reason?
  • Can they put you in touch with client in Willesden who can give a testimonial?

    • Can you provide any top tips for leasehold conveyancing in Willesden with the purpose of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Willesden can be bypassed if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the purchasers’ solicitors.
    • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Most leases in Willesden state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you fail to have the consents in place do not communicate with the landlord without checking with your conveyancer before hand.
  • A minority of Willesden leases require Licence to Assign from the landlord. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Arranging a replacement share certificate can be a time consuming process and delays many a Willesden home move. Where a new share is necessary, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have had difficulty in trying to purchase the freehold in Willesden. Can this matter be resolved via the Leasehold Valuation Tribunal?

    in cases where there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.

    An example of a lease Extension case for a Willesden residence is First Floor Flat 47 Huddlestone Road in December 2010. the Tribunal a valuation of £13,000 for a lease extension having been asked to consider the premium following a vesting order being granted by Willesden County Court On 14th September 2009 This case was in relation to 1 flat. The remaining number of years on the lease was 71.87 years.

    Other Topics

    Lease Extensions in Willesden