Recently asked questions relating to North West London leasehold conveyancing
I am in need of some leasehold conveyancing in North West London. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and almost all are in North West London - 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.
I only have 62 years left on my flat in North West London. I am keen to get lease extension but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. For most situations an enquiry agent may be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing North West London.
I have just started marketing my 2 bed apartment in North West London.Conveyancing solicitors are to be appointed soon but I have just had a yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge 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 management companies 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 own a leasehold flat in North West London. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in North West London who previously acted has long since retired.Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a North West London conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am tempted by the attractive purchase price for a couple of apartments in North West London which have approximately forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in North West London. The lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area
I acquired a 1st floor flat in North West London, conveyancing having been completed in 1996. How much will my lease extension cost? Similar flats in North West London with over 90 years remaining are worth £203,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2093
You have 69 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.