Fixed-fee leasehold conveyancing in East Finchley:

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While any conveyancing practice can theoretically deal with your leasehold conveyancing in East Finchley, your mortgage provider may not be willing to work with them if the firm are not on their list of approved solicitors for conveyancing

East Finchley leasehold conveyancing Example Support Desk Enquiries

I am hoping to sign contracts shortly on a leasehold property in East Finchley. Conveyancing solicitors have said that they will have a report out to me 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:

  • You should receive a copy of the lease
  • Defining your legal entitlements in relation to common areas in the block.For example, does the lease permit a right of way over a path or staircase?
  • Whether your lease has a provision for a sinking fund?
  • You should have a good understanding of the insurance provisions
  • Repair and maintenance of the flat
  • What you can do if a neighbour is in violation of a provision in their lease?
  • What the implications are if you breach a clause of your lease? For a comprehensive list of information to be included in your report on your leasehold property in East Finchley please ask your conveyancer in ahead of your conveyancing in East Finchley

    • I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in East Finchley. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in East Finchley ?

    Most houses in East Finchley are freehold and not leasehold. This is one of the situations where 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 in which case you should be shopping around for a East Finchley conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer should appraise you on the various issues.

    Back In 2007, I bought a leasehold house in East Finchley. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in East Finchley who acted for me is not around.What should I do?

    The first thing you should do is contact the Land Registry to be sure that this person is in fact the new freeholder. It is not necessary to instruct a East Finchley conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

    Can you provide any advice for leasehold conveyancing in East Finchley with the purpose of speeding up the sale process?

    • Much of the frustration in leasehold conveyancing in East Finchley can be reduced if you appoint lawyers as soon as your agents start marketing the property and ask them to collate the leasehold documentation which will be required by the purchasers’ conveyancers.
    • The majority landlords or Management Companies in East Finchley levy fees for providing management packs for a leasehold premises. You or your lawyers should discover the fee that they propose to charge. The management pack 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 common reason for delay 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 laid down wooden flooring? Most leases in East Finchley state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord approving such works. Where you fail to have the approvals in place do not communicate with the landlord without checking with your solicitor in the first instance.
  • If you are supposed to have a share in the freehold, you should make sure that you have the original share document. Obtaining a duplicate share certificate can be a time consuming formality and slows down many a East Finchley conveyancing deal. Where a new share is required, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later.
  • You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.

    • I am the leaseholder of a ground-floor 1950’s flat in East Finchley. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?

    if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.

    An example of a Lease Extension matter before the tribunal 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 was in relation to 1 flat. The remaining number of years on the lease was 56.65 years.

    What are the common problems that you see in leases for East Finchley properties?

    There is nothing unique about leasehold conveyancing in East Finchley. All leases are individual and drafting errors can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain elements of the property
    • A duty to insure the building
    • A provision for the recovery of money spent for the benefit of another party.
    • Maintenance charge proportions which don’t add up to the correct percentage

    A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.

    Other Topics

    Lease Extensions in East Finchley