I would like to let out my leasehold apartment in Fitzrovia. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?

Even though your previous Fitzrovia conveyancing lawyer is not around you can check your lease to see if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is allowed. There may be a precondition that you need to seek permission via your landlord or some other party before subletting. The net result is that you cannot sublet without prior permission. Such consent must not not be unreasonably turned down. If your lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.

I am attracted to a couple of maisonettes in Fitzrovia which have in the region of 50 years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Fitzrovia. The lease is a right to use the property for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena

Last month I purchased a leasehold property in Fitzrovia. Do I have any liability for service charges relating to a period prior to completion of my purchase?

Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 be sure 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 finding a Fitzrovia conveyancing firm to deal with our lease extension?

If you are instructing a solicitor for your lease extension (regardless if they are a Fitzrovia conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Fitzrovia conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:

• Can they put you in touch with client in Fitzrovia who can give a testimonial?

I own a second floor flat in Fitzrovia. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?

Most definitely. We can put you in touch with a Fitzrovia conveyancing firm who can help.

An example of a Freehold Enfranchisement matter before the tribunal for a Fitzrovia 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 was in relation to 1 flat. The the number of years remaining on the existing lease(s) was 73.26 years.

What makes a Fitzrovia lease unmortgageable?

Leasehold conveyancing in Fitzrovia is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• 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

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Barnsley Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

Other Topics

Lease Extensions in Fitzrovia