Leasehold Conveyancing in Barnet - Get a Quote from the leasehold experts approved by your lender

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When it comes to leasehold conveyancing in Barnet, you will need to chose a conveyancing solicitor with leasehold experience. Whether your lender is to be Clydesdale , Yorkshire Building Society or Bradford & Bingley be sure to find a lawyer on their approved list. Feel free to use our search tool

Top Five Questions relating to Barnet leasehold conveyancing

Planning to sign contracts shortly on a garden flat in Barnet. Conveyancing solicitors assured me that they are sending me a report within the next couple of days. What should I be looking out for?

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

  • You should receive a copy of the lease
  • Whether the lease restricts you from subletting the property, or working from home
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
  • What you can do if a neighbour breach a clause of their lease? For details of the information to be included in your report on your leasehold property in Barnet please ask your conveyancer in advance of your conveyancing in Barnet

    • I have just appointed agents to market my ground floor apartment in Barnet.Conveyancing has not commenced but I have just received a half-yearly service charge invoice – Do I pay up?

    It best that you discharge the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

    I am looking at a couple of maisonettes in Barnet which have about 50 years remaining on the leases. Will this present a problem?

    There is no doubt about it. A leasehold apartment in Barnet is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and mortgage companies, leases with under eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Barnet conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

    Can you provide any advice for leasehold conveyancing in Barnet with the intention of expediting the sale process?

    • Much of the frustration in leasehold conveyancing in Barnet can be avoided where you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation needed by the buyers lawyers.
    • If you have carried out any alterations to the residence would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Barnet state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such works. If you dont have the consents to hand you should not contact the landlord without checking with your lawyer in the first instance.
  • A minority of Barnet leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a flat where there is an ongoing dispute. You may have to bite the bullet and discharge 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 ahead of 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 present the dispute as historic as opposed to unresolved.
  • If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Arranging a replacement share certificate can be a lengthy formality and delays many a Barnet home move. If a new share is necessary, do contact the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.

    • All being well we will complete the sale of our £300000 garden flat in Barnet on Thursday in a week. The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Barnet?

    Barnet conveyancing on leasehold flats normally involves the buyer’s conveyancer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it exceeds £800. The administration charge invoiced by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you if you want to sell the property.

    I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Barnet conveyancing firm to assist?

    Absolutely. We are happy to put you in touch with a Barnet conveyancing firm who can help.

    An example of a Lease Extension decision for a Barnet premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The the number of years remaining on the existing lease(s) was 76 years.

    Other Topics

    Lease Extensions in Barnet