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Archway leasehold conveyancing Example Support Desk Enquiries

I am on look out for some leasehold conveyancing in Archway. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Archway - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Looking forward to complete next month on a basement flat in Archway. Conveyancing solicitors inform me that they are sending me a report next week. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Archway should include some of the following:

  • You should be sent a copy of the lease
  • Are you allowed to have a pet in the flat?
  • You need to be told what counts as a Nuisance in the lease
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in Archway please enquire of your conveyancer in advance of your conveyancing in Archway

    • I am a negotiator for a reputable estate agent office in Archway where we see a few flat sales jeopardised as a result of short leases. I have been given conflicting advice from local Archway conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?

    Provided that 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 proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as 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 purchaser.

    What are your top tips when it comes to appointing a Archway conveyancing practice to carry out our lease extension conveyancing?

    When appointing a conveyancer for your lease extension (regardless if they are a Archway conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Archway conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

    • If they are not ALEP accredited then what is the reason?
  • How many lease extensions has the firm completed in Archway in the last 12 months?

    • Can you provide any advice for leasehold conveyancing in Archway with the purpose of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in Archway can be avoided where you instruct lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Archway state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such changes. Where you dont have the consents to hand do not communicate with the landlord without checking with your lawyer in advance.
  • A minority of Archway leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic as opposed to unsettled.
  • If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate can be a lengthy formality and frustrates many a Archway home move. Where a new share is required, you should approach the company officers or managing agents (where relevant) for this at the earliest opportunity.

    • I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Archway conveyancing firm to help?

    You certainly can. We can put you in touch with a Archway conveyancing firm who can help.

    An example of a Lease Extension decision for a Archway residence is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case was in relation to 1 flat. The the unexpired residue of the current lease was 67.85 years.