Common questions relating to Fitzrovia leasehold conveyancing
There are only Fifty years remaining on my flat in Fitzrovia. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to find the lessor. On the whole an enquiry agent may be helpful to conduct investigations and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Fitzrovia.
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Fitzrovia. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Fitzrovia are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Fitzrovia in which case you should be shopping around for a Fitzrovia conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.
I own a leasehold flat in Fitzrovia. Conveyancing and Nottingham Building Society mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Fitzrovia who acted for me is not around.What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Fitzrovia conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a couple of apartments in Fitzrovia both have about forty five years unexpired on the leases. 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 period of time. As a lease shortens the saleability of the lease deteriorate and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on such properties. Lease extension can be a protracted process. We recommend you seek professional assistance from a conveyancer and surveyor with experience in this field
Can you provide any top tips for leasehold conveyancing in Fitzrovia from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Fitzrovia can be bypassed if you instruct lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers.
- If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Fitzrovia leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such alterations. Should you fail to have the approvals in place you should not communicate with the landlord without contacting your conveyancer before hand.
My wife and I have hit a brick wall in trying to purchase the freehold in Fitzrovia. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Fitzrovia conveyancing firm who can help.
An example of a Freehold Enfranchisement case 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 unexpired term as at the valuation date was 73.26 years.