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

When it comes to leasehold conveyancing in Marylebone, you will need to instruct a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Santander, RBS or Bradford & Bingley be sure to choose a lawyer on their panel. Feel free to use our search tool

Top Five Questions relating to Marylebone leasehold conveyancing

I wish to rent out my leasehold flat in Marylebone. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?

Notwithstanding that your previous Marylebone conveyancing solicitor is not available you can check your lease to check if you are permitted to let out the property. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek consent via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior permission. Such consent is not allowed to be unreasonably refused ore delayed. If your lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.

I own a leasehold house in Marylebone. Conveyancing and Halifax 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 1992. The conveyancing solicitor in Marylebone who previously acted has long since retired.Do I pay?

The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Marylebone conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

I am tempted by the attractive purchase price for a couple of flats in Marylebone which have in the region of forty five years left on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Marylebone. The lease is a right to use the premises for a period of time. As the lease shortens the marketability of the lease decreases and results in it becoming more costly to extend the lease. For this reason 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 lenders may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold property in Marylebone. Do I have any liability for service charges for periods before completion of my purchase?

In a situation 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

My wife and I have hit a brick wall in negotiating a lease extension in Marylebone. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to decide the sum to be paid.

An example of a Lease Extension case for a Marylebone premises is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case was in relation to 2 flats. The unexpired lease term was 24.02 years.

Are there frequently found deficiencies that you encounter in leases for Marylebone properties?

There is nothing unique about leasehold conveyancing in Marylebone. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:

  • Repairing obligations to or maintain elements 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 problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Barnsley Building Society, and Godiva Mortgages Ltd 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 defective they may refuse to provide security, forcing the purchaser to pull out.

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Lease Extensions in Marylebone