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

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While any conveyancing practice can theoretically handle your leasehold conveyancing in Maida Vale, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Maida Vale leasehold conveyancing Example Support Desk Enquiries

I have just appointed agents to market my 2 bed apartment in Maida Vale.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge demand – Do I pay up?

The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold flat in Maida Vale. Conveyancing and Clydesdale mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Maida Vale who acted for me is not around.Do I pay?

First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Maida Vale 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 legitimate 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 appointing a Maida Vale conveyancing practice to deal with our lease extension?

When appointing a property lawyer for your lease extension (regardless if they are a Maida Vale conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with several firms including non Maida Vale conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:

  • How experienced is the firm with lease extension legislation?
  • What are the charges for lease extension work?

    • Do you have any top tips for leasehold conveyancing in Maida Vale from the perspective of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Maida Vale can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information needed by the buyers solicitors.
    • If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Maida Vale state that internal structural changes or installing wooden flooring require a licence from the Landlord consenting to such works. If you dont have the paperwork in place you should not communicate with the landlord without checking with your conveyancer first.
  • Some Maida Vale leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 service charge figures so that they can pass this information on to the purchasers or their solicitors.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 particulars of the dispute to the purchasers, but it is better to present the dispute as over as opposed to unresolved.
  • You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Maida Vale. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

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

    An example of a Freehold Enfranchisement matter before the tribunal for a Maida Vale residence is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case related to 2 flats. The unexpired term was 70.02 years.

    Are there frequently found defects that you encounter in leases for Maida Vale properties?

    Leasehold conveyancing in Maida Vale is not unique. All leases are individual and drafting errors can result in certain provisions are erroneous. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You may 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. Santander, Norwich and Peterborough Building Society, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Maida Vale