Recently asked questions relating to Fitzrovia leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years remaining on my flat in Fitzrovia. I need to extend my lease but my freeholder is missing. What should I do?
On the basis that you meet the appropriate requirements, 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 lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to locate the freeholder. On the whole an enquiry agent should be useful to try and locate and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Fitzrovia.
I am hoping to complete next month on a garden flat in Fitzrovia. Conveyancing lawyers have said that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Fitzrovia should include some of the following:
- Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
I've found a house that seems to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Fitzrovia. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Fitzrovia are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Fitzrovia so you should seriously consider looking for a Fitzrovia conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is part of an estate. Your solicitor will appraise you on the various issues.
I am employed by a busy estate agent office in Fitzrovia where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Fitzrovia conveyancing solicitors. Can you clarify 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 commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible 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 buyer.
What advice can you give us when it comes to appointing a Fitzrovia conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Fitzrovia conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Fitzrovia conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:
- How familiar is the firm with lease extension legislation?
I have had difficulty in trying to purchase the freehold in Fitzrovia. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Fitzrovia conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Fitzrovia property 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 related to 1 flat. The the unexpired residue of the current lease was 73.26 years.
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