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Recently asked questions about conveyancing in Lisson Grove

The vendors of the property we are looking to purchase are using a conveyancing solicitor in Lisson Grove who has suggested a exclusivity contract with a non-refundable deposit 6,000. Are such contracts the norm for Lisson Grove conveyancing transactions?

This form of arrangement is unusual in Lisson Grove, conveyancers will often direct clients away from them as they detract from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. Furthermore, there is no assurance that just because the vendor has executed a lock out agreement they will complete the sale with you. They may breach the contract if they are offered a large enough incentive to do so because a wronged purchaser with the benefit of a lockout agreement will still be legally obliged to show losses as a consequence of the breach and these may not amount to the financial upside that the owner may secure by breaking the contract, however morally shameful the behaviour is.

I own a freehold property in Lisson Grove but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Lisson Grove and has limited impact for conveyancing in Lisson Grove but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.

Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.

Should our solicitor be raising enquiries about flooding as part of the conveyancing in Lisson Grove.

Flooding is a growing risk for conveyancers dealing with homes in Lisson Grove. There are those who purchase a house in Lisson Grove, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Conveyancers are not best placed to give advice on flood risk, but there are a various checks that may be carried out by the buyer or by their lawyers which should give them a better understanding of the risks in Lisson Grove. The standard completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to determine if the premises has suffered from flooding. If flooding has previously occurred which is not revealed by the seller, then a buyer could issue a claim for damages as a result of such an inaccurate answer. A buyer’s solicitors may also order an enviro search. This will reveal whether there is any known flood risk. If so, more detailed investigations will need to be carried out.

I am looking into buying my first house which is in Lisson Grove and I am already nervous. I couldn't find anything specific about Lisson Grove. Conveyancing will be needed in due course but do you know about the Lisson Grove area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Lisson Grove. In the meantime here are some basic statistics that we found

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a leasehold house in Lisson Grove. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?

The majority of houses in Lisson Grove 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. We note that you are purchasing in Lisson Grove so you should seriously consider looking for a Lisson Grove conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer should advise you fully on all the issues.

I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Lisson Grove conveyancing firm to represent me?

in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to decide the amount due.

An example of a Lease Extension case for a Lisson Grove residence is Flats 37 & 39 88/90 Portland Place in December 2010. The Tribunal determined that the premium payable for the lease extensions in respect of these two flats is as follows:- For Flat 37, the sum of £385,230.00 For Flat 39, the sum of £436,780.00 This case related to 2 flats. The unexpired term as at the valuation date was 24.02 years.

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Neighbouring Locations

St John's Wood
Primrose Hill
Lisson Grove
Paddington
Marylebone

Find out more about how flying freehold can affect your the value of a property.