I am in need of some leasehold conveyancing in Grahame Park. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and almost all are in Grahame Park - then the leasehold title will always include the short particulars 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.

I want to let out my leasehold flat in Grahame Park. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A lease governs relations between the freeholder and you the flat owner; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Grahame Park do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.

I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Grahame Park. Conveyancing solicitors have are about to be instructed. Will they explain the issues?

Most houses in Grahame Park are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. it is apparent that you are buying in Grahame Park so you should seriously consider looking for a Grahame Park conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.

I work for a long established estate agent office in Grahame Park where we have witnessed a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Grahame Park conveyancing solicitors. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is 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 buyer.

Do you have any top tips for leasehold conveyancing in Grahame Park with the aim of speeding up the sale process?

• A significant proportion of the frustration in leasehold conveyancing in Grahame Park can be reduced if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers lawyers.
• The majority freeholders or Management Companies in Grahame Park levy fees for supplying management packs for a leasehold homes. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Grahame Park.
• Some Grahame Park leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The 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 buyers or their solicitors.
• If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Organising a new share certificate can be a lengthy formality and frustrates many a Grahame Park conveyancing deal. Where a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible.
• You believe that you know the number of years left on your lease but it would be wise to double-check by asking your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

I am the leaseholder of a first floor flat in Grahame Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?

in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the sum to be paid.

An example of a Freehold Enfranchisement decision for a Grahame Park flat is 1 & 1A Sunningfields Crescent in September 2013. The Tribunals calculation of the amount to be paid into court in respect of the value of the freehold interest is £11,997 in respect of Flat 1 and £15,781 in respect of Flat 1A for a total of £27,778. This case was in relation to 2 flats. The unexpired lease term was 71.5 years.

Grahame Park Conveyancing for Leasehold Flats - Examples of Queries Prior to buying