Guaranteed fixed fees for Leasehold Conveyancing in North West London

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Top Five Questions relating to North West London leasehold conveyancing

Expecting to complete next month on a studio apartment in North West London. Conveyancing lawyers assured me that they report fully on Monday. 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:

  • Whether the lease restricts you from renting out the flat, or working from home
  • You must be told what constitutes a Nuisance in the lease
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building For a comprehensive list of information to be contained in your report on your leasehold property in North West London please ask your conveyancer in ahead of your conveyancing in North West London

    • My wife and I purchased a leasehold house in North West London. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in North West London who acted for me is not around.Do I pay?

    First contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a North West London conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

    I've recently bought a leasehold house in North West London. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    I work for a reputable estate agency in North West London where we have experienced a number of flat sales put at risk as a result of short leases. I have received contradictory information from local North West London conveyancing solicitors. Could you confirm whether the seller of a flat can instigate the lease extension process for the buyer?

    As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 at the same time as completion of the sale.

    Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.

    Are there frequently found defects that you encounter in leases for North West London properties?

    There is nothing unique about leasehold conveyancing in North West London. All leases is drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

    North West London Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing

      What is the name of the managing agents? Are there any major works in the near future that will likely add a premium to the service costs? Be sure to enquire if there are any onerous prohibitions in the lease. By way of example it is very common in North West London leases that pets are not permitted in certain buildings in North West London. If you love the flatin North West London however your cat is not allowed to make the move with you then you will be faced hard compromise.

    Other Topics

    Lease Extensions in North West London