Fixed-fee leasehold conveyancing in Maida Hill:

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Frequently asked questions relating to Maida Hill leasehold conveyancing

I am on look out for some leasehold conveyancing in Maida Hill. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Maida Hill - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Due to complete next month on a studio apartment in Maida Hill. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, freeholder
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • Changes to the flat (alterations and additions)
  • 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 contained in your report on your leasehold property in Maida Hill please ask your lawyer in advance of your conveyancing in Maida Hill

    • Last month I purchased a leasehold house in Maida Hill. Am I liable to pay service charges relating to a period prior to my ownership?

    In a situation 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. However, 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 ensure 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).

    Can you offer any advice when it comes to finding a Maida Hill conveyancing practice 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 firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Maida Hill conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions might be useful:

    • What volume of lease extensions has the firm conducted in Maida Hill in the last year?
  • Can they put you in touch with client in Maida Hill who can give a testimonial?

    • I have given up trying to purchase the freehold in Maida Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?

    Where there is a missing landlord or if 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 LVT to make a decision on the amount due.

    An example of a Lease Extension decision for a Maida Hill property 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 the unexpired term as at the valuation date was 60 years.

    What makes a Maida Hill lease unacceptable for security purposes?

    There is nothing unique about leasehold conveyancing in Maida Hill. Most leases are unique and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in Maida Hill