Fixed-fee leasehold conveyancing in East Finchley:

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When it comes to leasehold conveyancing in East Finchley, you will need to chose a conveyancing lawyer with leasehold experience. Whether your mortgage company is to be Lloyds, RBS or NatWest be sure to find a lawyer on their approved list. Feel free to use our search tool

Common questions relating to East Finchley leasehold conveyancing

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

A lease governs relations between the freeholder and you the flat owner; in particular, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in East Finchley do not prevent an absolute prevention of subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.

Planning to complete next month on a leasehold property in East Finchley. Conveyancing solicitors have said that they report fully tomorrow. What should I be looking out for?

Your report on title for your leasehold conveyancing in East Finchley should include some of the following:

  • How long the lease is You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
  • Do you need to have carpet in the flat or are you allowed wood flooring?
  • You need to be told what constitutes a Nuisance in the lease
  • Whether your lease has a provision for a reserve fund?
  • 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 premises and do you know what it means in practice?
  • Responsibility for repairing the window frames For a comprehensive list of information to be contained in your report on your leasehold property in East Finchley please ask your solicitor in advance of your conveyancing in East Finchley

    • I today plan to offer on a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have just found out that the title is leasehold rather than freehold. I would have thought that there are issues purchasing a leasehold house in East Finchley. Conveyancing solicitors have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in East Finchley ?

    The majority of houses in East Finchley are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in East Finchley so you should seriously consider shopping around for a East Finchley conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your solicitor will appraise you on the various issues.

    Do you have any advice for leasehold conveyancing in East Finchley from the perspective of saving time on the sale process?

    • A significant proportion of the frustration in leasehold conveyancing in East Finchley can be avoided where you appoint lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the buyers solicitors.
    • The majority freeholders or managing agents in East Finchley levy fees for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. 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 Finchley.
  • In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? East Finchley leases often stipulate that internal structural changes or installing wooden flooring calls for a licence issued by the Landlord approving such alterations. If you fail to have the consents to hand do not contact the landlord without checking with your conveyancer in advance.
  • If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You may have to bite the bullet and pay 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 ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as over rather than ongoing.
  • If you hold a share in a the Management Company, you should make sure that you have the original share certificate. Organising a duplicate share certificate is often a lengthy formality and delays many a East Finchley home move. Where a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where relevant) for this as soon as possible.

    • I have had difficulty in trying to reach an agreement for a lease extension in East Finchley. Can this matter be resolved via the Leasehold Valuation Tribunal?

    You certainly can. We are happy to put you in touch with a East Finchley conveyancing firm who can help.

    An example of a Lease Extension decision for a East Finchley premises is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case related to 1 flat. The remaining number of years on the lease was 56.65 years.

    In relation to leasehold conveyancing in East Finchley what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in East Finchley. Most leases are individual and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:

    • Repairing obligations to or maintain elements of the premises
    • A duty to insure the building
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to withdraw.

    Other Topics

    Lease Extensions in East Finchley