Leasehold Conveyancing in Bayswater - Get a Quote from the leasehold experts approved by your lender

While any conveyancing practice can theoretically deal with 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

Frequently asked questions relating to Bayswater leasehold conveyancing

My wife and I may need to rent out our Bayswater basement flat temporarily due to a new job. We instructed a Bayswater conveyancing firm in 2003 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?

A small minority of properties in Bayswater do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.

I only have Fifty years unexpired on my lease in Bayswater. I am keen to get lease extension but my landlord is missing. What are my options?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the freeholder. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Bayswater.

You should [be sent a copy of the lease|receive a copy of the lease]

Due to sign contracts shortly on a ground floor flat in Bayswater. Conveyancing lawyers inform me that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Setting out your legal entitlements in respect of the communal areas in the block.By way of example, does the lease provide for a right of way over a path or staircase?
  • Whether the lease restricts you from letting out the property, or working from home
  • You should be told what counts as a Nuisance in the lease
  • 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
  • Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
  • Responsibility for repairing the window frames
For a comprehensive list of information to be contained in your report on your leasehold property in Bayswater please ask your lawyer in advance of your conveyancing in Bayswater

My wife and I purchased a leasehold house in Bayswater. Conveyancing and Britannia mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Bayswater who previously acted has long since retired.What should I do?

The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Bayswater conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Can you provide any advice for leasehold conveyancing in Bayswater with the purpose of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Bayswater can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority freeholders or managing agents in Bayswater charge for providing management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information 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 usual reason for delay in leasehold conveyancing in Bayswater.
  • A minority of Bayswater leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unresolved.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. It is therefore essential at an as soon as possible 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 own a two-bedroom flat in Bayswater. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?

in cases where there is a missing freeholder or if 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 First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Bayswater flat 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 remaining number of years on the lease was 37.79 years.

I am the registered owner of a 2 bed flat in Bayswater, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Bayswater with over 90 years remaining are worth £175,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2077

With only 51 years remaining on your lease we estimate the premium for your lease extension to be between £35,200 and £40,600 as well as legals.

The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.