Having had my offer accepted I require leasehold conveyancing in Piccadilly. Before diving in I would like to find out the number of years remaining on the lease.

If the lease is registered - and almost all are in Piccadilly - 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.

I would like to rent out my leasehold flat in Piccadilly. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?

The lease dictates the relationship between the freeholder and you the leaseholder; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Piccadilly do not contain an absolute prevention of subletting – such a clause would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.

I am looking at a couple of maisonettes in Piccadilly which have in the region of 50 years remaining on the leases. Will this present a problem?

There are plenty of short leases in Piccadilly. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the marketability of the lease decreases and results in it becoming more expensive to extend the lease. This is why it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this field

Do you have any top tips for leasehold conveyancing in Piccadilly from the perspective of saving time on the sale process?

• Much of the delay in leasehold conveyancing in Piccadilly can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers.
• If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Piccadilly leases often stipulate that internal structural alterations or addition of wooden flooring necessitate a licence issued by the Landlord approving such changes. Where you dont have the approvals to hand you should not contact the landlord without checking with your conveyancer first.

If you have had conflict with your freeholder or managing agents it is very important that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing.

If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Organising a re-issued share certificate can be a lengthy formality and delays many a Piccadilly home move. If a duplicate share certificate is needed, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.

You believe that you know the number of years left on your lease but you should verify this via your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the remaining number of years is under 80 years. In the circumstances it is important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

All being well we will complete the disposal of our £375000 apartment in Piccadilly on Thursday in a week. The landlords agents has quoted £336 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Piccadilly?

Piccadilly conveyancing on leasehold maisonettes normally involves administration charges invoiced by managing agents :

• Answering pre-contract enquiries
• Where consent is required before sale in Piccadilly
• Copies of the building insurance and schedule
• Deeds of covenant upon sale
• Registering of the assignment of the change of lessee after a sale

Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Piccadilly leasehold property is £350. For Piccadilly conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Piccadilly. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to determine the price.

An example of a Lease Extension case for a Piccadilly residence is Flat 1 3 Upper Belgrave Street in December 2010. The Tribunal determined that the price payablefor the Lease extension in respect of the subject premises was £2,202,007 This case related to 1 flat. The unexpired term was 21 years.

Other Topics

Lease Extensions in Piccadilly