I am intending to let out my leasehold apartment in Ladbroke Grove. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

A small minority of properties in Ladbroke Grove do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review 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 am attracted to a couple of maisonettes in Ladbroke Grove both have approximately fifty years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the marketability of the lease decreases and it becomes more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold house in Ladbroke Grove. Am I liable to pay service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

What are your top tips when it comes to choosing a Ladbroke Grove conveyancing practice to deal with our lease extension?

When appointing a solicitor for your lease extension (regardless if they are a Ladbroke Grove conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggested that you make enquires with several firms including non Ladbroke Grove conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

• How many lease extensions has the firm carried out in Ladbroke Grove in the last year?

Having spent months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Ladbroke Grove. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to decide the amount due.

An example of a Lease Extension decision for a Ladbroke Grove flat is Flat 1 57 Oxford Gardens in January 2014. the Tribunal decided that the premium to be paidfor a new lease is £61,650.00. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 60 years.

When it comes to leasehold conveyancing in Ladbroke Grove what are the most common lease defects?

Leasehold conveyancing in Ladbroke Grove is not unique. All leases is drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

• Repairing obligations to or maintain parts of the premises
• A duty to insure the building
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Service charge per centages that don't add up correctly leaving a shortfall

You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Leeds Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.

Other Topics

Lease Extensions in Ladbroke Grove