Guaranteed fixed fees for Leasehold Conveyancing in Crouch End

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Leasehold conveyancing in Crouch End 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 Crouch End and across 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 Crouch End leasehold conveyancing

I have just started marketing my ground floor flat in Crouch End.Conveyancing lawyers have not yet been instructed but I have just received a yearly maintenance charge demand – Do I pay up?

Your conveyancing lawyer is likely to suggest that you should discharge 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 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. This will smooth the conveyancing process.

I've found a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Crouch End. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Crouch End 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. We note that you are buying in Crouch End in which case you should be looking for a Crouch End conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your lawyer should advise you fully on all the issues.

I am looking at a two flats in Crouch End which have about 50 years remaining 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 shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field

Last month I purchased a leasehold house in Crouch End. Do I have any liability for service charges relating to a period prior to 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. It is an essential part of leasehold conveyancing for your conveyancer to be sure 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).

Can you provide any advice for leasehold conveyancing in Crouch End from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in Crouch End can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers lawyers.
  • If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Crouch End state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Where you dont have the paperwork in place do not contact the landlord without contacting your lawyer in the first instance.
  • A minority of Crouch End leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand 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 solicitors.
  • If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unresolved. You may have to bite the bullet 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 clearly preferable to reveal the dispute as over rather than ongoing.
  • You believe that you know the number of years remaining on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.

    • I am the registered owner of a garden flat in Crouch End. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

    Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the price.

    An example of a Lease Extension case for a Crouch End residence is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case affected 1 flat. The remaining number of years on the lease was 67.85 years.

    Other Topics

    Lease Extensions in Crouch End