Fixed-fee leasehold conveyancing in Colney Hatch:

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Questions and Answers: Colney Hatch leasehold conveyancing

Harry (my fiance) and I may need to let out our Colney Hatch ground floor flat temporarily due to a new job. We instructed a Colney Hatch conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease permits subletting. How do we find out?

Notwithstanding that your previous Colney Hatch conveyancing solicitor is not around you can check your lease to check if it allows you to sublet the apartment. The accepted inference is that if the deeds are non-specific, subletting is allowed. Quite often there is a prerequisite that you are obliged to obtain consent from your landlord or other appropriate person before subletting. This means you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably refused ore delayed. If the lease does not allow you to sublet you will need to ask your landlord for their consent.

I have just started marketing my 2 bed flat in Colney Hatch.Conveyancing solicitors are to be appointed soon but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?

It best that you pay the service charge 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 management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.

My wife and I purchased a leasehold house in Colney Hatch. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Colney Hatch who acted for me is not around.Do I pay?

The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Colney Hatch conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured 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 attracted to a couple of apartments in Colney Hatch which have approximately 50 years unexpired on the lease term. Will this present a problem?

There is no doubt about it. A leasehold apartment in Colney Hatch is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Colney Hatch conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I've recently bought a leasehold house in Colney Hatch. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Following years of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Colney Hatch. Can we issue an application to the Residential Property Tribunal Service?

if there is a absentee 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 First-tier Tribunal (Property Chamber) to calculate the amount due.

An example of a Lease Extension decision for a Colney Hatch residence is 90 & 96 Poplar Grove in June 2013. It was held by the Tribunal that the premium to be paid for the new lease in respect of each of the flats referred should be £17,942 This case affected 2 flats. The unexpired lease term was 68 years.

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Lease Extensions in Colney Hatch