Experts for Leasehold Conveyancing in Bayswater

Get a Quote

Any conveyancing solicitor can theoretically handle your leasehold conveyancing in Bayswater, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Bayswater

I have just appointed agents to market my basement apartment in Bayswater.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – Do I pay up?

The sensible thing to do is pay the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Bayswater. Conveyancing lawyers have not yet been instructed. Will they explain the issues?

Most houses in Bayswater are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Bayswater in which case you should be shopping around for a Bayswater conveyancing practitioner and check that they are used to transacting on leasehold houses. First 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 will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer should advise you fully on all the issues.

Back In 2002, I bought a leasehold flat in Bayswater. Conveyancing and Britannia mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Bayswater who previously acted has now retired.Do I pay?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Bayswater conveyancing solicitor to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am a negotiator for a reputable estate agency in Bayswater where we have witnessed a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Bayswater conveyancing solicitors. Can you confirm whether the seller of a flat can initiate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 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.

An alternative approach is 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.

Do you have any top tips for leasehold conveyancing in Bayswater with the aim of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Bayswater can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
  • In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Bayswater leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such works. If you fail to have the approvals in place do not contact the landlord without checking with your lawyer first.
  • A minority of Bayswater leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 buyers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is put on the market. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you are holding the original share document. Obtaining a re-issued share certificate can be a lengthy formality and slows down many a Bayswater home move. If a duplicate share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • I am the registered owner of a first floor flat in Bayswater. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

    Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to determine the premium.

    An example of a Lease Extension case for a Bayswater residence is 93 Oakwood Court in June 2010. the LVT determined that the premium to be paid for the new lease was £492,083, This case affected 1 flat. The unexpired term was 37.79 years.

    Other Topics

    Lease Extensions in Bayswater