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Examples of recent questions relating to leasehold conveyancing in Cockfosters

I am intending to let out my leasehold apartment in Cockfosters. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?

Some leases for properties in Cockfosters do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates 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 am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Cockfosters. Conveyancing advisers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Cockfosters ?

The majority of houses in Cockfosters are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Cockfosters in which case you should be looking for a Cockfosters conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer will report to you on the legal implications.

I own a leasehold house in Cockfosters. Conveyancing and Barnsley 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 1997. The conveyancing solicitor in Cockfosters who acted for me is not around.What should I do?

First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Cockfosters conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.

Do you have any advice for leasehold conveyancing in Cockfosters from the perspective of expediting the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Cockfosters can be avoided where you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ representatives.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example installed wooden flooring? Most leases in Cockfosters state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord consenting to such works. If you dont have the paperwork to hand do not communicate with the landlord without checking with your solicitor before hand.
  • A minority of Cockfosters leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice 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 financially capable of paying 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 solicitors.
  • If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You may have to bite the bullet 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 prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the Management Company, you should make sure that you have the original share document. Obtaining a new share certificate is often a time consuming formality and frustrates many a Cockfosters home move. If a duplicate share is needed, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • I inherited a ground flat in Cockfosters. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

    if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the price payable.

    An example of a Freehold Enfranchisement matter before the tribunal for a Cockfosters premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case related to 2 flats. The the number of years remaining on the existing lease(s) was 70.31 years.

    What makes a Cockfosters lease unmortgageable?

    Leasehold conveyancing in Cockfosters is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the premises
    • Insurance obligations
    • A provision for the recovery of money spent for the benefit of another party.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Norwich and Peterborough Building Society, and Nottingham Building Society all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

    Other Topics

    Lease Extensions in Cockfosters