Examples of recent questions relating to leasehold conveyancing in Maida Hill
My husband and I may need to let out our Maida Hill basement flat temporarily due to taking a sabbatical. We instructed a Maida Hill conveyancing practice in 2001 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A small minority of properties in Maida Hill do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Expecting to exchange soon on a garden flat in Maida Hill. Conveyancing lawyers have said that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Maida Hill should include some of the following:
- The physical extent of the premises. This will be the flat itself but could also include a roof space or basement if appropriate.
Back In 2000, I bought a leasehold flat in Maida Hill. Conveyancing and Lloyds TSB Bank mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Maida Hill who acted for me is not around.What should I do?
First contact HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Maida Hill conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate 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 two flats in Maida Hill both have about 50 years remaining on the leases. should I be concerned?
There are no two ways about it. A leasehold flat in Maida Hill is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and lenders, leases with under eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Maida Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
What advice can you give us when it comes to appointing a Maida Hill conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Maida Hill conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Maida Hill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- What volume of lease extensions have they carried out in Maida Hill in the last 12 months?
Following months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Maida Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Maida Hill conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Maida Hill residence is Flat 1 57 Oxford Gardens in January 2014. the Tribunal decided that the premium to be paidfor a new lease is £61,650.00. This case affected 1 flat. The unexpired term was 60 years.