I have recently realised that I have 62 years left on my lease in Covent Garden. I need to extend my lease but my landlord is missing. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the landlord. For most situations an enquiry agent should be useful to conduct investigations and prepare a report which can be used as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to devolving into the landlord’s disappearance and the application to the County Court covering Covent Garden.

Due to complete next month on a leasehold property in Covent Garden. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

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

• Does the lease prohibit wood flooring?

I am tempted by the attractive purchase price for a couple of flats in Covent Garden which have about 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Covent Garden. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena

I've recently bought a leasehold property in Covent Garden. Am I liable to pay service charges for periods before completion of my purchase?

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. 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 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).

What are your top tips when it comes to choosing a Covent Garden conveyancing practice to carry out our lease extension conveyancing?

When appointing a conveyancer for your lease extension (regardless if they are a Covent Garden conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with two or three firms including non Covent Garden conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be of use:

• Can they put you in touch with client in Covent Garden who can give a testimonial?

I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Covent Garden conveyancing firm to help?

You certainly can. We are happy to put you in touch with a Covent Garden conveyancing firm who can help.

An example of a Freehold Enfranchisement case for a Covent Garden residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The the unexpired residue of the current lease was 73.26 years.

Other Topics

Lease Extensions in Covent Garden