Is there a reason why leasehold purchase conveyancing in Fitzrovia is more expensive?

The conveyancing fees for a leasehold premises in Fitzrovia is frequently greater than on a freehold residence. This is because there is an amount of additional work necessary in liaising with the freeholder and management company to obtain information concerning whether the rent and maintenance charges have been paid and whether there are any major works due in the near future on repairs or maintenance of the block.

I'm buying my first flat in Fitzrovia with a loan from . The sellers refused to move on the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not to tell my solicitor about this deal as it may put at risk my mortgage with the bank. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

In my capacity as executor for the estate of my father I am disposing of a property in Neath but live in Fitzrovia. My solicitor (approximately 250 kilometers from merequires that I execute a stat dec ahead of completion. Could you suggest a conveyancing practitioner in Fitzrovia who can attest this legal document for me?

Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are located in Fitzrovia

I am looking at a two flats in Fitzrovia which have in the region of forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

There are plenty of short leases in Fitzrovia. The lease is a right to use the property for a prescribed time frame. As a lease gets shorter the saleability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a conveyancer and surveyor with experience in this area.

I acquired a 1 bedroom flat in Fitzrovia, conveyancing was carried out 1995. How much will my lease extension cost? Corresponding flats in Fitzrovia with over 90 years remaining are worth £165,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 50

You have 50 years left to run we estimate the price of your lease extension to span between £36,100 and £41,800 as well as costs.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

We are in the process of selling our flat in Fitzrovia. Conveyancing solicitors are doing their job but we are being charged an extortionate amount by the landlord. To date we have paid £237 for a leasehold management information and then another £134.40 for answers to queries supplied by the purchaser's .

You will not have control over the extent of the fee for this information however the typical fee for the information for Fitzrovia leasehold property is £355. When it comes to Fitzrovia conveyancing transactions it is usual for the vendor to cover the charges. The freeholder or their agents are not duty bound to address these questions most will agree 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 fees for administrative tasks. Neither is there any set time frame by which they are obliged to supply the information.