Questions and Answers: Barnet leasehold conveyancing
I am on look out for some leasehold conveyancing in Barnet. Before I get started I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Barnet - 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.
I only have 72 years left on my flat in Barnet. I now want to get lease extension but my landlord is absent. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the landlord. For most situations an enquiry agent should be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s absence and the application to the County Court overseeing Barnet.
I’m about to sell my ground floor apartment in Barnet.Conveyancing solicitors are to be appointed soon but I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay 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 until 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 apartments in Barnet which have approximately fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Barnet. The lease is a right to use the property for a prescribed time frame. As the lease shortens the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is advisable to extend the lease term. It is often difficulties arise selling premises 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 assistance from a conveyancer and surveyor with experience in this arena
Do you have any advice for leasehold conveyancing in Barnet from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Barnet can be reduced where you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
- 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? Barnet leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such works. Should you fail to have the approvals in place do not contact the landlord without checking with your lawyer in the first instance.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Barnet. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We are happy to put you in touch with a Barnet conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Barnet residence 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 was in relation to 1 flat. The unexpired lease term was 76 years.