Common questions relating to North West London leasehold conveyancing
I would like to rent out my leasehold apartment in North West London. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your previous North West London conveyancing solicitor is not around you can check your lease to check if you are permitted to let out the apartment. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain consent from your landlord or some other party in advance of subletting. This means that you cannot sublet without first obtaining permission. The consent is not allowed to be unreasonably turned down. If your lease prohibits you from letting out the property you will need to ask your landlord for their consent.
I have recently realised that I have 68 years left on my lease in North West London. I now want to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to track down the lessor. In some cases a specialist may be helpful to conduct investigations and prepare an expert document which can be used as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering North West London.
I am hoping to sign contracts shortly on a leasehold property in North West London. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
The report on title for your leasehold conveyancing in North West London should include some of the following:
- The total extent of the property. This will be the apartment itself but might include a roof space or cellar if applicable.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it more attractive. I have just discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in North West London. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
The majority of houses in North West London are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in North West London so you should seriously consider shopping around for a North West London conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is part of an estate. Your solicitor should advise you fully on all the issues.
Can you provide any advice for leasehold conveyancing in North West London with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in North West London can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers lawyers.
- Many landlords or managing agents in North West London charge for supplying management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in North West London.
I am the registered owner of a ground floor flat in North West London, conveyancing was carried out 2005. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in North West London with a long lease are worth £245,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2090
With just 69 years left to run we estimate the price of your lease extension to span between £11,400 and £13,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.