Fixed-fee leasehold conveyancing in Archway:

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Questions and Answers: Archway leasehold conveyancing

I only have Seventy years unexpired on my lease in Archway. I now wish to extend my lease but my landlord is can not be found. What options are available to me?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to track down the freeholder. For most situations an enquiry agent should be helpful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Archway.

Planning to complete next month on a ground floor flat in Archway. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?

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

  • Details of the parties to the lease, for example these could be the leaseholder (you), head lessor, landlord
  • Does the lease require carpeting throughout thus preventing wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • Whether your lease has a provision for a reserve fund?
  • What options are open to you if a neighbour breach a clause of their lease?
  • What the implications are if you breach a clause of your lease? For details of the information to be contained in your report on your leasehold property in Archway please ask your lawyer in advance of your conveyancing in Archway

    • I am attracted to a two apartments in Archway both have in the region of forty five years remaining on the lease term. Will this present a problem?

    There are plenty of short leases in Archway. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease gets shorter the value of the lease deteriorate and it becomes more costly to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan 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 field

    Do you have any advice for leasehold conveyancing in Archway with the purpose of speeding up the sale process?

    • Much of the delay in leasehold conveyancing in Archway can be reduced where you get in touch lawyers the minute your agents start marketing the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives.
    • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Archway leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such alterations. If you dont have the consents to hand do not communicate with the landlord without contacting your solicitor in advance.
  • Some Archway leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is 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 service charge figures so that they can pass this information on to the buyers or their solicitors.
  • If you hold a share in a the Management Company, you should ensure that you hold the original share document. Organising a re-issued share certificate can be a time consuming formality and delays many a Archway conveyancing deal. If a reissued share is required, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A buyer’s lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • Completion in due on the disposal of our £500000 apartment in Archway in just under a week. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Archway?

    Archway conveyancing on leasehold flats more often than not necessitates the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They are at liberty charge a reasonable administration fee for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some situations it exceeds £800. The administration charge levied by the landlord must be sent together with a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. In reality you have little option but to pay whatever is demanded should you wish to complete the sale of your home.

    I am the leaseholder of a first floor flat in Archway. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

    if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.

    An example of a Lease Extension case 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 affected 1 flat. The remaining number of years on the lease was 67.85 years.