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

Any conveyancing practice can theoretically deal with your leasehold conveyancing in Barnsbury, your mortgage provider may unwilling to work with them if the firm are not on their list of approved solicitors for conveyancing

Barnsbury leasehold conveyancing Example Support Desk Enquiries

Jane (my partner) and I may need to rent out our Barnsbury garden flat for a while due to a new job. We used a Barnsbury conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?

Some leases for properties in Barnsbury do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I only have 68 years unexpired on my lease in Barnsbury. I am keen to extend my lease but my landlord is can not be found. What should I do?

If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you have made all reasonable attempts to find the freeholder. On the whole an enquiry agent may be helpful to carry out a search and prepare an expert document to be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s absence and the application to the County Court covering Barnsbury.

I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it more attractive. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Barnsbury. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

Most houses in Barnsbury are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are buying in Barnsbury in which case you should be shopping around for a Barnsbury conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your solicitor will report to you on the legal implications.

I am employed by a long established estate agent office in Barnsbury where we have witnessed a few leasehold sales put at risk due to short leases. I have received contradictory information from local Barnsbury conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension process for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.

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 provide any top tips for leasehold conveyancing in Barnsbury with the aim of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Barnsbury can be bypassed where you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers conveyancers.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you installed wooden flooring? Barnsbury leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you dont have the approvals in place do not contact the landlord without checking with your conveyancer in the first instance.
  • A minority of Barnsbury leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The 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 have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Obtaining a replacement share certificate is often a lengthy formality and slows down many a Barnsbury conveyancing transaction. Where a reissued share is required, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.
  • You believe that you know the number of years remaining on your lease but it would be advisable verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

  • Despite our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Barnsbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?

    Most definitely. We are happy to put you in touch with a Barnsbury conveyancing firm who can help.

    An example of a Lease Extension case for a Barnsbury premises 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