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Top Five Questions relating to Arnos Grove leasehold conveyancing

Jane (my partner) and I may need to rent out our Arnos Grove garden flat for a while due to a career opportunity. We instructed a Arnos Grove conveyancing practice in 2004 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your previous Arnos Grove conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the property. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to obtain consent via your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of prior permission. Such consent is not allowed to be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I am hoping to sign contracts shortly on a garden flat in Arnos Grove. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?

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

  • How long the lease is You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
  • The physical extent of the property. This will be the flat itself but may include a roof space or cellar if appropriate.
  • Does the lease prevent you from subletting the property, or having a home office for business
  • 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 sinking fund?
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • 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 Arnos Grove please enquire of your conveyancer in advance of your conveyancing in Arnos Grove

    • Back In 2007, I bought a leasehold flat in Arnos Grove. Conveyancing and Yorkshire Building Society mortgage organised. I have received a letter from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Arnos Grove who acted for me is not around.Do I pay?

    First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Arnos Grove conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    I am tempted by the attractive purchase price for a two maisonettes in Arnos Grove which have about fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?

    There are plenty of short leases in Arnos Grove. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the value of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field

    Can you provide any top tips for leasehold conveyancing in Arnos Grove with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Arnos Grove can be bypassed where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers lawyers.
    • The majority landlords or Management Companies in Arnos Grove charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Arnos Grove.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Arnos Grove state that internal structural alterations or laying down wooden flooring require a licence from the Landlord approving such works. Should you fail to have the consents in place do not contact the landlord without checking with your lawyer first.
  • A minority of Arnos Grove leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any 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 service charge figures so that they can pass this information on to the purchasers or their lawyers.
  • You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise 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.

    • I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Arnos Grove conveyancing firm to assist?

    You certainly can. We are happy to put you in touch with a Arnos Grove conveyancing firm who can help.

    An example of a Freehold Enfranchisement matter before the tribunal for a Arnos Grove flat is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The the unexpired term as at the valuation date was 70.31 years.