Guaranteed fixed fees for Leasehold Conveyancing in West Smithfield

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in West Smithfield, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to West Smithfield leasehold conveyancing

Jane (my partner) and I may need to rent out our West Smithfield garden flat for a while due to a career opportunity. We instructed a West Smithfield conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Your lease dictates relations between the freeholder and you the leaseholder; specifically, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in West Smithfield do not contain an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am hoping to sign contracts shortly on a garden flat in West Smithfield. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in West Smithfield should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the property. This will be the flat itself but may include a roof space or cellar if appropriate.
  • Does the lease prevent you from subletting the property, or having a home office for business
  • 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?
  • 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
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in West Smithfield please enquire of your conveyancer in advance of your conveyancing in West Smithfield

    • Back In 2007, I bought a leasehold flat in West Smithfield. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in West Smithfield who acted for me is not around.Do I pay?

    First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a West Smithfield conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a two maisonettes in West Smithfield which have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

    Can you provide any top tips for leasehold conveyancing in West Smithfield with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in West Smithfield can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or Management Companies in West Smithfield charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in West Smithfield.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in West Smithfield state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such works. Should you fail to have the consents in place do not contact the landlord without checking with your lawyer first.
  • A minority of West Smithfield leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore 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 registered owner of a ground floor flat in West Smithfield. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?

    if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to judgment on the sum to be paid.

    An example of a Lease Extension matter before the tribunal for a West Smithfield flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The the unexpired term as at the valuation date was 66.8 years.

    Other Topics

    Lease Extensions in West Smithfield