Experts for Leasehold Conveyancing in Fitzrovia

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Fitzrovia, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Examples of recent questions relating to leasehold conveyancing in Fitzrovia

I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have since found out that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Fitzrovia. Conveyancing solicitors have are about to be appointed. Will they explain the issues?

Most houses in Fitzrovia are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Fitzrovia so you should seriously consider looking for a Fitzrovia conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

What advice can you give us when it comes to appointing a Fitzrovia conveyancing firm to carry out our lease extension conveyancing?

When appointing a conveyancer for lease extension works (regardless if they are a Fitzrovia conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Fitzrovia conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

  • How familiar is the practice with lease extension legislation?
  • If they are not ALEP accredited then why not?

    • Can you provide any advice for leasehold conveyancing in Fitzrovia from the point of view of saving time on the sale process?

    • Much of the delay in leasehold conveyancing in Fitzrovia can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ solicitors.
    • Many landlords or managing agents in Fitzrovia levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought on or before finding 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 frequent reason for frustration in leasehold conveyancing in Fitzrovia.
  • If you have carried out any alterations to the residence would they have required Landlord’s permission? In particular have you installed wooden flooring? Fitzrovia leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such changes. Where you dont have the consents in place you should not contact the landlord without checking with your solicitor first.
  • If you have had any disputes with your freeholder or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unsettled.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share certificate. Arranging a replacement share certificate can be a time consuming process and frustrates many a Fitzrovia home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later.

    • If all goes to plan we aim to complete the disposal of our £475000 maisonette in Fitzrovia in 10 days. The freeholder has quoted £324 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Fitzrovia?

    Fitzrovia conveyancing on leasehold flats usually necessitates the purchaser’s solicitor sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be content to assist. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge required by the landlord must be accompanied by a summary of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that you have no option but to pay whatever is demanded if you want to complete the sale of your home.

    After years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Fitzrovia. Can we issue an application to the Residential Property Tribunal Service?

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

    An example of a Freehold Enfranchisement decision for a Fitzrovia residence 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 related to 1 flat. The unexpired lease term was 73.26 years.

    What makes a Fitzrovia lease unmortgageable?

    Leasehold conveyancing in Fitzrovia is not unique. Most leases is drafted differently and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.

    Other Topics

    Lease Extensions in Fitzrovia