North West London leasehold conveyancing Example Support Desk Enquiries
I would like to rent out my leasehold flat in North West London. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
The lease dictates relations between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in North West London do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
Planning to exchange soon on a leasehold property in North West London. Conveyancing solicitors inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in North West London should include some of the following:
- The physical extent of the demise. This will be the property itself but might incorporate a loft or basement if appropriate.
- Setting out your rights in relation to the communal areas in the block.E.G., does the lease permit a right of way over a path or staircase?
- Ground rent - how much and when you need to pay, and also know whether this is subject to change
- Repair and maintenance of the flat
- Changes to the flat (alterations and additions)
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
- What the implications are if you breach a clause of your lease?
I’m about to sell my 2 bed apartment in North West London.Conveyancing is yet to be initiated but I have just received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
It best that you clear the invoice 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. This will smooth the conveyancing process.
I work for a long established estate agency in North West London where we have witnessed a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given inconsistent advice from local North West London conveyancing firms. Can you shed some light as to whether the seller of a flat can instigate the lease extension formalities 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 kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having 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 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.
What advice can you give us when it comes to finding a North West London conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a North West London conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with two or three firms including non North West London 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:
- Can they put you in touch with client in North West London who can give a testimonial?
- What are the costs for lease extension conveyancing?
I own a basement flat in North West London, conveyancing having been completed 4 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in North West London with over 90 years remaining are worth £260,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2083
With only 57 years remaining on your lease the likely cost is going to range between £23,800 and £27,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.