Examples of recent questions relating to leasehold conveyancing in Paddington
I wish to sublet my leasehold flat in Paddington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your previous Paddington conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you are obliged to seek consent via your landlord or other appropriate person before subletting. This means that you cannot sublet without first obtaining consent. Such consent should not be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord for their consent.
I’m about to sell my garden flat in Paddington.Conveyancing lawyers have not yet been instructed but I have just had a quarterly maintenance charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge 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 management companies 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. This will smooth the conveyancing process.
I've found a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Paddington. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Paddington ?
The majority of houses in Paddington are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Paddington so you should seriously consider looking for a Paddington conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.
Do you have any top tips for leasehold conveyancing in Paddington from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Paddington can be avoided where you instruct lawyers the minute you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ conveyancers.
- The majority freeholders or Management Companies in Paddington charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Paddington.
Completion in due on the sale of our £175000 maisonette in Paddington in just under a week. The managing agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Paddington?
Paddington conveyancing on leasehold apartments normally necessitates administration charges invoiced by landlords agents :
- Completing pre-exchange questions
- Where consent is required before sale in Paddington
- Copies of the building insurance and schedule
- Deeds of covenant upon sale
- Registering of the assignment of the change of lessee after a sale
We have reached the end of our tether in trying to purchase the freehold in Paddington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension case for a Paddington 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 affected 2 flats. The the number of years remaining on the existing lease(s) was 24.02 years.