Common questions relating to Paddington leasehold conveyancing
I want to let out my leasehold apartment in Paddington. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
Notwithstanding that your last Paddington conveyancing lawyer is not available you can review your lease to see if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you are obliged to obtain permission from your landlord or some other party prior to subletting. The net result is that you cannot sublet without first obtaining permission. Such consent should not be unreasonably refused ore delayed. If the lease prohibits you from letting out the property you should ask your landlord if they are willing to waive this restriction.
Having checked my lease I have discovered that there are only Fifty years remaining on my flat in Paddington. I need to get lease extension but my freeholder is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the lessor. For most situations an enquiry agent should be useful to carry out a search and prepare a report to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to investigating the landlord’s absence and the application to the County Court covering Paddington.
I've found a house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Paddington. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Paddington ?
Most houses in Paddington are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Paddington in which case you should be looking for a Paddington conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.
I work for a busy estate agency in Paddington where we have witnessed a number of flat sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Paddington conveyancing solicitors. Can you shed some light as to whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Can you offer any advice when it comes to finding a Paddington conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Paddington conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggested that you speak with several firms including non Paddington conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- How experienced is the firm with lease extension legislation?
- What are the charges for lease extension work?
I have had difficulty in trying to purchase the freehold in Paddington. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Paddington conveyancing firm who can help.
An example of a Lease Extension case for a Paddington 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 affected 2 flats. The unexpired term was 24.02 years.
Leasehold Conveyancing in Paddington - A selection of Questions you should consider Prior to Purchasing
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What prohibitions are contained in the Paddington Lease?
Is anyone aware of any major works in the planning that will add a premium to the maintenance charges?