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

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Leasehold conveyancing in Clerkenwell is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Clerkenwell and throughout next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Sample questions relating to Clerkenwell leasehold conveyancing

I am on look out for some leasehold conveyancing in Clerkenwell. Before I get started I would like to find out the remaining lease term.

If the lease is registered - and most are in Clerkenwell - 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.

Harry (my fiance) and I may need to rent out our Clerkenwell 1st floor flat temporarily due to taking a sabbatical. We used a Clerkenwell conveyancing practice in 2002 but they have closed and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Some leases for properties in Clerkenwell do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review 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 permission.

I today plan to offer on a house that seems to meet my requirements, at a great price which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Clerkenwell. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Clerkenwell ?

The majority of houses in Clerkenwell are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Clerkenwell in which case you should be looking for a Clerkenwell conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.

Do you have any advice for leasehold conveyancing in Clerkenwell with the purpose of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Clerkenwell can be reduced if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers solicitors.
  • Some Clerkenwell leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If there is a history of conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. 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 details of the dispute to the buyers, but it is clearly preferable to present the dispute as over rather than unresolved.
  • If you are supposed to have a share in the Management Company, you should make sure that you hold the original share document. Arranging a re-issued share certificate can be a lengthy formality and delays many a Clerkenwell conveyancing transaction. Where a reissued share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 80 years. It is therefore important at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.

    • I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Clerkenwell conveyancing firm to help?

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

    An example of a Lease Extension decision for a Clerkenwell residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired term was 66.8 years.

    When it comes to leasehold conveyancing in Clerkenwell what are the most common lease defects?

    Leasehold conveyancing in Clerkenwell is not unique. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.

    Other Topics

    Lease Extensions in Clerkenwell