Top Five Questions relating to West London leasehold conveyancing
My husband and I may need to sub-let our West London ground floor flat temporarily due to a career opportunity. We instructed a West London conveyancing firm in 2001 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
A lease governs the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in West London do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in West London. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in West London ?
The majority of houses in West London are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in West London so you should seriously consider shopping around for a West London conveyancing solicitor and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.
I am attracted to a two maisonettes in West London both have about fifty years unexpired on the lease term. Do I need to be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease deteriorate and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this arena
I've recently bought a leasehold house in West London. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner 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).
If all goes to plan we aim to complete the disposal of our £350000 garden flat in West London on Wednesday in a week. The landlords agents has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in West London?
West London conveyancing on leasehold maisonettes ordinarily necessitates fees being raised by freeholders :
- Completing pre-exchange enquiries
- Where consent is required before sale in West London
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in West London. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We are happy to put you in touch with a West London conveyancing firm who can help.
An example of a Lease Extension case for a West London residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The the unexpired term as at the valuation date was 72.39 years.
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