Experts for Leasehold Conveyancing in Little Venice

When it comes to leasehold conveyancing in Little Venice, you will need to chose a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, RBS or NatWest make sure you choose a lawyer on their approved list. Feel free to use our search tool

Common questions relating to Little Venice leasehold conveyancing

Having checked my lease I have discovered that there are only 62 years unexpired on my lease in Little Venice. I need to extend my lease but my freeholder is absent. What are my options?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have made all reasonable attempts to locate the landlord. For most situations a specialist would be useful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the vesting order request to the County Court overseeing Little Venice.

I've found a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Little Venice. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?

The majority of houses in Little Venice are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are purchasing in Little Venice so you should seriously consider shopping around for a Little Venice conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will appraise you on the various issues.

Back In 2009, I bought a leasehold house in Little Venice. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Little Venice who previously acted has long since retired.Do I pay?

The first thing you should do is contact HMLR to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Little Venice conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.

What advice can you give us when it comes to choosing a Little Venice conveyancing firm to deal with our lease extension?

When appointing a conveyancer for your lease extension (regardless if they are a Little Venice conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Little Venice conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How familiar is the firm with lease extension legislation?
  • How many lease extensions have they conducted in Little Venice in the last year?

  • When it comes to leasehold conveyancing in Little Venice what are the most common lease defects?

    There is nothing unique about leasehold conveyancing in Little Venice. All leases are unique and drafting errors can result in certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You could 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. Accord Mortgages Ltd, The Mortgage Works, 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 grant the mortgage, obliging the purchaser to pull out.

    I own a leasehold flat in Little Venice, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Little Venice with an extended lease are worth £204,000. The ground rent is £55 invoiced annually. The lease runs out on 21st October 2083

    With 61 years unexpired we estimate the price of your lease extension to span between £21,900 and £25,200 as well as plus your own and the landlord's "reasonable" professional fees.

    The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.

    Other Topics

    Lease Extensions in Little Venice