I wish to rent out my leasehold flat in Maida Vale. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

Even though your previous Maida Vale conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the premises. The accepted inference is that if the lease is silent, subletting is permitted. Quite often there is a prerequisite that you must obtain permission from your landlord or some other party before subletting. This means that you cannot sublet in the absence of prior permission. The consent should not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.

I have just appointed agents to market my basement apartment in Maida Vale.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should clear the invoice 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 until 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.

I am tempted by the attractive purchase price for a two apartments in Maida Vale which have about fifty years unexpired on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more costly to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this area

I've recently bought a leasehold flat in Maida Vale. Do I have any liability for service charges for periods before 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. However, 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 ensure 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).

I am the proprietor of a second floor flat in Maida Vale. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?

Absolutely. We are happy to put you in touch with a Maida Vale conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Maida Vale premises 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 the unexpired term as at the valuation date was 70.02 years.

When it comes to leasehold conveyancing in Maida Vale what are the most frequent lease defects?

There is nothing unique about leasehold conveyancing in Maida Vale. Most leases is drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:

• A provision to repair to or maintain parts of the building
• Insurance obligations
• 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 will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.

I bought a ground floor flat in Maida Vale, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Similar flats in Maida Vale with a long lease are worth £167,000. The ground rent is £55 yearly. The lease ends on 21st October 2096

With only 70 years unexpired we estimate the premium for your lease extension to span between £10,500 and £12,000 as well as plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.