Kingsbury leasehold conveyancing: Q and A’s
I have recently realised that I have 62 years unexpired on my lease in Kingsbury. I now wish to get lease extension but my landlord is missing. What are my options?
On the basis that you meet the appropriate requirements, 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 enable the lease to be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases a specialist would be helpful to try and locate and to produce an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court covering Kingsbury.
I am hoping to exchange soon on a studio apartment in Kingsbury. Conveyancing lawyers assured me that they are sending me a report within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Kingsbury should include some of the following:
- You should receive a copy of the lease
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Kingsbury. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Kingsbury ?
Most houses in Kingsbury are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Kingsbury so you should seriously consider looking for a Kingsbury conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First 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 will likely included provisions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I work for a busy estate agent office in Kingsbury where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Kingsbury conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 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 agree the lease extension with the freeholder 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.
Can you offer any advice when it comes to choosing a Kingsbury conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Kingsbury conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Kingsbury conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:
- How experienced is the practice with lease extension legislation?
I have had difficulty in trying to reach an agreement for a lease extension in Kingsbury. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Kingsbury conveyancing firm who can help.
An example of a Lease Extension case for a Kingsbury property is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case related to 1 flat. The the unexpired residue of the current lease was 70.25 years.
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