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Recently asked questions relating to Bounds Green leasehold conveyancing

Looking forward to exchange soon on a studio apartment in Bounds Green. Conveyancing solicitors assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

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

  • The physical extent of the demise. This will be the apartment itself but may incorporate a roof space or cellar if applicable.
  • Defining your rights in relation to common areas in the block.By way of example, does the lease permit a right of way over an accessway or staircase?
  • Does the lease prohibit wood flooring?
  • Ground rent - how much and when you need to pay, and also know whether this is subject to change
  • 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.
  • The landlord’s obligations to repair and maintain the building. It is important that you know who is responsible for the repair and maintenance of every part of the building
  • What options are open to you if a neighbour breach a clause of their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Bounds Green please ask your solicitor in ahead of your conveyancing in Bounds Green

  • Back In 2006, I bought a leasehold flat in Bounds Green. Conveyancing and Clydesdale mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Bounds Green who acted for me is not around.Do I pay?

    First make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Bounds Green conveyancing solicitor to do this as you can do this on the Land Registry website for less than a fiver. 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.

    What advice can you give us when it comes to finding a Bounds Green conveyancing firm to deal with our lease extension?

    If you are instructing a solicitor for lease extension works (regardless if they are a Bounds Green conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Bounds Green conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be helpful:

    • How familiar is the firm with lease extension legislation?
  • How many lease extensions has the firm conducted in Bounds Green in the last year?

  • Can you provide any top tips for leasehold conveyancing in Bounds Green from the perspective of expediting the sale process?

    • A significant proportion of the delay in leasehold conveyancing in Bounds Green can be bypassed if you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers conveyancers.
    • Many freeholders or Management Companies in Bounds Green charge for providing management packs for a leasehold homes. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Bounds Green.
  • If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Bounds Green leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. Should you fail to have the consents in place do not communicate with the landlord without checking with your solicitor before hand.
  • If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic rather than unresolved.
  • If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Organising a new share certificate is often a lengthy process and slows down many a Bounds Green home move. If a duplicate share certificate is needed, you should approach the company officers or managing agents (if relevant) for this sooner rather than later.

  • Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £425000 maisonette in Bounds Green next week. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Bounds Green?

    Bounds Green conveyancing on leasehold flats normally involves administration charges invoiced by freeholders :

    • Completing pre-contract enquiries
    • Where consent is required before sale in Bounds Green
    • Copies of the building insurance and schedule
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Bounds Green leasehold property is £350. For Bounds Green conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide the information.

    I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Bounds Green conveyancing firm to help?

    in cases 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 LVT to calculate the amount due.

    An example of a Lease Extension case for a Bounds Green premises is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The the unexpired term as at the valuation date was 81.79 years.