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Questions and Answers: West London leasehold conveyancing

I am in need of some leasehold conveyancing in West London. Before diving in I want to be sure as to the remaining lease term.

If the lease is recorded at the land registry - and most are in 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.

There are only Seventy years left on my flat in West London. I now want to get lease extension but my freeholder is missing. What should I do?

On the basis that you qualify, 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 mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. On the whole a specialist should be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing West London.

I am looking at a two maisonettes in West London both have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in West London. The lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this arena

Can you provide any top tips for leasehold conveyancing in West London with the aim of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in West London can be avoided if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ conveyancers.
  • The majority freeholders or managing agents in West London charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in West London.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Most leases in West London state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such works. Should you fail to have the approvals in place do not communicate with the landlord without checking with your lawyer first.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unresolved.
  • You believe that you know the number of years left on your lease but it would be advisable double-check via your solicitors. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the leaseholder of a second floor flat in West London. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

    in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to determine the premium.

    An example of a Lease Extension decision for a West London premises 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 unexpired lease term was 72.39 years.

    What makes a West London lease unmortgageable?

    Leasehold conveyancing in West London is not unique. All leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the premises
    • 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 will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in West London