Having had my offer accepted I require leasehold conveyancing in Barnsbury. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Barnsbury - then the leasehold title will always include the basic details 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 would like to rent out my leasehold apartment in Barnsbury. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Notwithstanding that your previous Barnsbury conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you must seek permission via your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior permission. The consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.

I am attracted to a two flats in Barnsbury both have approximately forty five years remaining on the leases. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a prescribed time frame. As the lease shortens the saleability of the lease decreases and it becomes more expensive to extend the lease. This is why it is advisable to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field

I work for a reputable estate agency in Barnsbury where we have experienced a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Barnsbury conveyancing solicitors. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder 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 buyer.

Can you offer any advice when it comes to finding a Barnsbury conveyancing firm to carry out our lease extension conveyancing?

If you are instructing a solicitor for your lease extension (regardless if they are a Barnsbury conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Barnsbury conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be useful:

• What volume of lease extensions has the firm carried out in Barnsbury in the last year?

I have had difficulty in trying to purchase the freehold in Barnsbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?

if there is a missing landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.

An example of a Lease Extension case for a Barnsbury residence is Flat 120, Clare Court Judd Street in August 2013. the Tribunal held that the premium to be paid for the extension of the lease should be £64,650 This case affected 1 flat. The the unexpired term as at the valuation date was 62.79 years.

Other Topics

Lease Extensions in Barnsbury