Experts for Leasehold Conveyancing in Soho

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Common questions relating to Soho leasehold conveyancing

I am on look out for some leasehold conveyancing in Soho. Before I get started I require certainty as to the remaining lease term.

Assuming the lease is registered - and 99.9% are in Soho - 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've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out 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 Soho. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Soho ?

The majority of houses in Soho are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Soho in which case you should be shopping around for a Soho conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free 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. It may be necessary to pay a contribution towards the upkeep of the estate where the house is located on an estate. Your lawyer will advise you fully on all the issues.

Can you offer any advice when it comes to choosing a Soho conveyancing practice to deal with our lease extension?

If you are instructing a conveyancer for your lease extension (regardless if they are a Soho conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Soho conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

  • How experienced is the practice with lease extension legislation?
  • What are the charges for lease extension work?

    • Do you have any advice for leasehold conveyancing in Soho from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Soho can be reduced where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
    • Many landlords or Management Companies in Soho levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common reason for delay in leasehold conveyancing in Soho.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Soho leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence from the Landlord consenting to such works. Should you dont have the approvals in place you should not communicate with the landlord without checking with your lawyer first.
  • If you have had any disputes with your landlord or managing agents it is essential that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve 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 details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • If all goes to plan we aim to complete the disposal of our £325000 flat in Soho in just under a week. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Soho?

    Soho conveyancing on leasehold apartments usually necessitates the purchaser’s solicitor submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions most will be content to assist. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the invoice is not strictly payable. In reality one has no choice but to pay whatever is demanded should you wish to sell the property.

    I am the registered owner of a ground flat in Soho. 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?

    in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the price.

    An example of a Freehold Enfranchisement case for a Soho property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The unexpired lease term was 73.26 years.

    Other Topics

    Lease Extensions in Soho