Leasehold Conveyancing in Fitzrovia - Get a Quote from the leasehold experts approved by your lender

Get a Quote

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

Fitzrovia leasehold conveyancing: Q and A’s

Jane (my partner) and I may need to let out our Fitzrovia 1st floor flat temporarily due to taking a sabbatical. We used a Fitzrovia conveyancing practice in 2002 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?

Some leases for properties in Fitzrovia do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see 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 consent.

I've found a house that appears to tick a lot of boxes, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Fitzrovia. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Fitzrovia ?

The majority of houses in Fitzrovia are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Fitzrovia in which case you should be shopping around for a Fitzrovia conveyancing practitioner and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

What are your top tips when it comes to finding a Fitzrovia conveyancing practice to deal with our lease extension?

When appointing a property lawyer for lease extension works (regardless if they are a Fitzrovia conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you talk with two or three firms including non Fitzrovia conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions might be helpful:

  • If the firm is not ALEP accredited then why not?
  • What volume of lease extensions has the firm carried out in Fitzrovia in the last year?

    • Can you provide any advice for leasehold conveyancing in Fitzrovia with the intention of saving time on the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Fitzrovia can be bypassed if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold documentation needed by the buyers representatives.
    • Many landlords or Management Companies in Fitzrovia charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Fitzrovia.
  • In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Fitzrovia state that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord acquiescing to such changes. Should you dont have the consents to hand do not contact the landlord without checking with your solicitor in advance.
  • A minority of Fitzrovia leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
  • If you are supposed to have a share in the Management Company, you should ensure that you are holding the original share certificate. Organising a new share certificate can be a lengthy process and slows down many a Fitzrovia conveyancing transaction. Where a reissued share is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.

    • I have given up trying to purchase the freehold in Fitzrovia. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Absolutely. 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 flat 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 term was 73.26 years.

    What makes a Fitzrovia lease unacceptable for security purposes?

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

    • A provision to repair 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

    A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Royal Bank of Scotland, and TSB 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 problematic they may refuse to grant the mortgage, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Fitzrovia