I have recently realised that I have 72 years unexpired on my lease in Piccadilly. I need to get lease extension but my freeholder is missing. What options are available to me?

If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to track down the freeholder. On the whole an enquiry agent should be helpful to carry out a search and to produce a report to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on devolving into the landlord’s absence and the application to the County Court overseeing Piccadilly.

I have just appointed agents to market my 2 bed flat in Piccadilly.Conveyancing has not commenced but I have just received a half-yearly service charge demand – what should I do?

The sensible thing to do is discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it more attractive. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Piccadilly. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Piccadilly ?

The majority of houses in Piccadilly 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 apparent that you are purchasing in Piccadilly so you should seriously consider looking for a Piccadilly conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am tempted by the attractive purchase price for a two flats in Piccadilly both have in the region of forty five years left on the lease term. Will this present a problem?

There are plenty of short leases in Piccadilly. The lease is a right to use the property for a period of time. As a lease gets shorter the saleability of the lease deteriorate and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this area

I've recently bought a leasehold flat in Piccadilly. Do I have any liability for service charges for periods before my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).

I am the leaseholder of a ground floor flat in Piccadilly. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?

Most certainly. We are happy to put you in touch with a Piccadilly conveyancing firm who can help.

An example of a Lease Extension matter before the tribunal for a Piccadilly property 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 lease term was 21 years.

Piccadilly Leasehold Conveyancing - A selection of Questions you should ask before Purchasing

What prohibitions exist in the Piccadilly Lease? Its a good idea to discover as much as you can regarding the company managing the building as they can either make living at the property much easier or a lot more difficult. As the owner of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the tidiness of the communal areas. Enquire of prospective neighbours whether they are happy with them. In conclusion, investigate as to the dates that the maintenance fees are due to the relevant party and specifically how they are spending the funds.