Fixed-fee leasehold conveyancing in Bowes Park:

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Bowes Park leasehold conveyancing: Q and A’s

I have recently realised that I have 72 years left on my lease in Bowes Park. I now want to get lease extension but my landlord is can not be found. What options are available to me?

On the basis that 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 enable the lease to be granted an extra 90 years by the Court. You will be obliged to prove that you have done all that could be expected to find the landlord. On the whole an enquiry agent should be helpful to conduct investigations and to produce an expert document to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s absence and the vesting order request to the County Court overseeing Bowes Park.

Looking forward to exchange soon on a studio apartment in Bowes Park. Conveyancing lawyers assured me that they report fully tomorrow. What should I be looking out for?

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

  • You should receive a copy of the lease
  • The unexpired lease term You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
  • Defining your rights in respect of the communal areas in the block.E.G., does the lease permit a right of way over an accessway or hallways?
  • Does the lease prohibit wood flooring?
  • Whether the lease restricts you from renting out the flat, or working from home
  • 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 you can do if a neighbour is in violation of a provision in their lease? For a comprehensive list of information to be contained in your report on your leasehold property in Bowes Park please ask your conveyancer in ahead of your conveyancing in Bowes Park

    • I have just appointed agents to market my garden apartment in Bowes Park.Conveyancing is yet to be initiated but I have just had a yearly maintenance charge invoice – 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 managing agents 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 tempted by the attractive purchase price for a couple of maisonettes in Bowes Park both have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?

    A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field

    Do you have any top tips for leasehold conveyancing in Bowes Park with the aim of speeding up the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in Bowes Park can be bypassed where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers.
    • Many landlords or managing agents in Bowes Park charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Bowes Park.
  • Some Bowes Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual 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 purchasers or their lawyers.
  • If you have had conflict with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The buyers and their solicitors will be warry about purchasing a property where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle 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 will still have to reveal particulars of the dispute to the purchasers, but it is better to present the dispute as historic as opposed to unsettled.
  • You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the lease term is under 75 years. It is therefore important at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.

    • I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Bowes Park conveyancing firm to represent me?

    Most certainly. We can put you in touch with a Bowes Park conveyancing firm who can help.

    An example of a Lease Extension matter before the tribunal for a Bowes Park residence 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 was in relation to 1 flat. The remaining number of years on the lease was 81.79 years.

    Other Topics

    Lease Extensions in Bowes Park