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North End leasehold conveyancing: Q and A’s

I am in need of some leasehold conveyancing in North End. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and most are in North End - then the leasehold title will always include the basic details 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 would like to let out my leasehold flat in North End. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Notwithstanding that your last North End conveyancing lawyer is no longer available you can review your lease to check if it allows you to sublet the premises. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of prior permission. The consent must not not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.

Can you offer any advice when it comes to choosing a North End conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a North End conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non North End conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be useful:

  • How many lease extensions has the firm carried out in North End in the last twenty four months?
  • Can they put you in touch with client in North End who can give a testimonial?

    • Do you have any advice for leasehold conveyancing in North End from the point of view of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in North End can be reduced if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
    • The majority freeholders or managing agents in North End charge for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in North End.
  • If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? North End leases often stipulate that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such works. Should you dont have the consents in place do not contact the landlord without contacting your solicitor before hand.
  • Some North End leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
  • You believe that you know the number of years left on your lease but you should double-check by asking your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. It is therefore essential at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I own a basement flat in North End. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?

    in cases where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to make a decision on the amount due.

    An example of a Lease Extension case for a North End premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired lease term was 76 years.

    What are the common deficiencies that you witness in leases for North End properties?

    There is nothing unique about leasehold conveyancing in North End. Most leases is drafted differently and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain parts of the building
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Virgin Money, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in North End