Marylebone leasehold conveyancing: Q and A’s
I want to let out my leasehold apartment 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?
Even though your previous Marylebone conveyancing lawyer is no longer around you can check your lease to check if you are permitted to let out the premises. The rule is that if the lease is silent, subletting is allowed. There may be a precondition that you need to obtain consent via your landlord or other appropriate person before 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 does not allow you to sublet you should ask your landlord for their consent.
I only have Sixty One years unexpired on my lease in Marylebone. I now want to get lease extension but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you have used your best endeavours to track down the freeholder. In some cases a specialist would be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Marylebone.
I own a leasehold flat in Marylebone. Conveyancing and Godiva Mortgages Ltd mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Marylebone who acted for me is not around.What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a Marylebone conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I've recently bought a leasehold property in Marylebone. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, 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 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).
What advice can you give us when it comes to choosing a Marylebone conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Marylebone conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We suggested that you speak with two or three firms including non Marylebone conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be helpful:
- If they are not ALEP accredited then what is the reason?
- What volume of lease extensions has the firm carried out in Marylebone in the last year?
We have reached the end of our tether in trying to purchase the freehold in Marylebone. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension case for a Marylebone residence 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 related to 2 flats. The unexpired lease term was 24.02 years.
Leasehold Conveyancing in Marylebone - Examples of Queries before buying
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It would be sensible to find out as much as possible about the company managing the block as they can either make your life much simpler or problematic. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the upkeep of the common parts. Enquire of prospective neighbours if they are happy with them. Finally, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending the funds.
How many of the leaseholders are in arrears for their maintenance charge payments?
If a Marylebone lease has fewer than eighty years it will impact the salability of the apartment. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably require a lease extension at some point and it is worth discovering what this will be. Remember, in most cases you would need to own the residence for 24 months before you are entitled to exercise a lease extension.