Examples of recent questions relating to leasehold conveyancing in Barnsbury
I only have Sixty One years remaining on my lease in Barnsbury. I now wish to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to track down the landlord. In some cases an enquiry agent should be useful to conduct investigations and prepare a report which can be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Barnsbury.
I am hoping to complete next month on a ground floor flat in Barnsbury. Conveyancing lawyers have said that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Barnsbury should include some of the following:
- You should receive a copy of the lease
I own a leasehold house in Barnsbury. Conveyancing and Yorkshire Building Society mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Barnsbury who previously acted has long since retired.Do I pay?
The first thing you should do is contact HMLR to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Barnsbury conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am looking at a two flats in Barnsbury both have approximately forty five years left on the leases. should I be concerned?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorate 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 such properties. Lease enfranchisement can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this arena
Can you offer any advice when it comes to finding a Barnsbury conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Barnsbury conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Barnsbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the firm with lease extension legislation?
Despite our best endeavours, we have been unsuccessful in seeking a lease extension in Barnsbury. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the amount due.
An example of a Lease Extension matter before the tribunal 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 related to 1 flat. The the unexpired term as at the valuation date was 62.79 years.