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

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Any conveyancing solicitor can theoretically deal with your leasehold conveyancing in Maida Hill, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

Recently asked questions relating to Maida Hill leasehold conveyancing

Expecting to complete next month on a studio apartment in Maida Hill. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Maida Hill should include some of the following:

  • You should receive a copy of the lease
  • Setting out your rights in relation to common areas in the building.By way of example, does the lease grant a right of way over an accessway or staircase?
  • Ground rent - how much and when you need to pay, and also know whether this will change in the future
  • You should have a good understanding of the insurance provisions
  • I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • Responsibility for repairing the window frames For details of the information to be included in your report on your leasehold property in Maida Hill please enquire of your solicitor in ahead of your conveyancing in Maida Hill

    • I am hoping to put an offer on a small detached house that seems to meet my requirements, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Maida Hill. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Maida Hill ?

    Most houses in Maida Hill are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Maida Hill so you should seriously consider shopping around for a Maida Hill conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to conduct changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.

    I am attracted to a two apartments in Maida Hill which have in the region of forty five years remaining on the lease term. should I be concerned?

    A lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more expensive to extend the lease. For this reason it is generally wise to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena

    I am a negotiator for a reputable estate agent office in Maida Hill where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local Maida Hill conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the buyer?

    As long as 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 wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

    An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

    What are your top tips when it comes to appointing a Maida Hill conveyancing firm to carry out our lease extension conveyancing?

    If you are instructing a solicitor 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 work. We advise that you make enquires with several firms including non Maida Hill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • If they are not ALEP accredited then why not?
  • Can they put you in touch with client in Maida Hill who can give a testimonial?

    • Following months of negotiations we cannot 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?

    Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.

    An example of a Lease Extension matter before the tribunal for a Maida Hill premises 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 lease term was 60 years.

    Other Topics

    Lease Extensions in Maida Hill