Questions and Answers: East Barnet leasehold conveyancing
I am on look out for some leasehold conveyancing in East Barnet. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in East Barnet - 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.
I’m about to sell my garden apartment in East Barnet.Conveyancing has not commenced but I have just received a half-yearly service charge demand – Do I pay up?
It best that you 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 managing agents will not acknowledge the buyer until 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.
I own a leasehold house in East Barnet. Conveyancing and Skipton Building Society mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in East Barnet who previously acted has long since retired.What should I do?
First make enquiries of the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a East Barnet conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I am attracted to a two flats in East Barnet which have in the region of fifty years remaining on the leases. Will this present a problem?
There are plenty of short leases in East Barnet. The lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease deteriorate and it becomes more expensive to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficult to sell a property with a short lease because mortgage companies may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you get professional help from a solicitor and surveyor with experience in this field
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £150000 garden flat in East Barnet in 5 days. The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in East Barnet?
East Barnet conveyancing on leasehold flats usually involves the purchaser’s lawyer submitting questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be willing to assist. They are at liberty levy a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that one has no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a East Barnet conveyancing firm to help?
Absolutely. We are happy to put you in touch with a East Barnet conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a East Barnet residence is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The unexpired lease term was 70.31 years.