East Barnet leasehold conveyancing: Q and A’s
Having had my offer accepted I require leasehold conveyancing in East Barnet. Before diving in I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and 99.9% are in East Barnet - then the leasehold title will always include the short particulars 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.
I am hoping to complete next month on a studio apartment in East Barnet. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in East Barnet should include some of the following:
- Defining your rights in relation to common areas in the block.For example, does the lease grant a right of way over an accessway or hallways?
- You need to be told what constitutes a Nuisance in the lease
- You should have a good understanding of the insurance provisions
- Changes to the flat (alterations and additions)
- I don't know whether the lease allows me to alter or improve anything in the flat - you should know whether it applies to all alterations or just structural alteration, and whether consent is required
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice?
- What the implications are if you breach a clause of your lease?
I own a leasehold house in East Barnet. Conveyancing and Britannia mortgage organised. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1996. The conveyancing solicitor in East Barnet who previously acted has now retired.Do I pay?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a East Barnet conveyancing solicitor to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
What advice can you give us when it comes to choosing a East Barnet conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a East Barnet conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non East Barnet conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions could be helpful:
- How familiar is the firm with lease extension legislation?
- If they are not ALEP accredited then what is the reason?
Do you have any top tips for leasehold conveyancing in East Barnet with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in East Barnet can be bypassed 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 buyers lawyers.
- The majority landlords or Management Companies in East Barnet levy fees for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have 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 usual cause of frustration in leasehold conveyancing in East Barnet.
- A minority of East Barnet leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are 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 solicitors.
- If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to 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 prior to 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 historic as opposed to unresolved.
- If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a re-issued share certificate is often a lengthy process and slows down many a East Barnet conveyancing deal. Where a duplicate share is needed, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a East Barnet conveyancing firm to represent me?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, 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 make a decision on the price payable.
An example of a Freehold Enfranchisement case for a East Barnet property 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 unexpired term as at the valuation date was 70.31 years.
Leasehold Conveyancing in East Barnet - A selection of Queries Prior to buying
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What is the length of the lease?
For most East Barnet leaseholds the cost for major works are not included within service charges, albeit that a few managing agents in East Barnet require leasehold owners to pay into a sinking fund and this is used to offset against larger repairs or maintenance.