Fixed-fee leasehold conveyancing in East Finchley:

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When it comes to leasehold conveyancing in East Finchley, you will need to appoint a conveyancing solicitor with leasehold experience. Whether your mortgage company is to be Halifax, Birmingham Midshires or Bradford & Bingley make sure you choose a lawyer on their panel. Feel free to use our search tool

Common questions relating to East Finchley leasehold conveyancing

Harry (my fiance) and I may need to rent out our East Finchley garden flat temporarily due to a new job. We instructed a East Finchley conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?

A small minority of properties in East Finchley do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

I have recently realised that I have 62 years remaining on my lease in East Finchley. I now wish to extend my lease but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you have done all that could be expected to track down the lessor. On the whole a specialist should be helpful to try and locate and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering East Finchley.

Estate agents have just been given the go-ahead to market my garden apartment in East Finchley.Conveyancing solicitors are to be appointed soon but I have just received a half-yearly service charge invoice – what should I do?

It best that you clear the service charge 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. This will smooth the conveyancing process.

I am a negotiator for a busy estate agency in East Finchley where we have witnessed a number of leasehold sales put at risk due to short leases. I have received contradictory information from local East Finchley conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Do you have any top tips for leasehold conveyancing in East Finchley from the perspective of speeding up the sale process?

  • A significant proportion of the frustration in leasehold conveyancing in East Finchley can be bypassed where you get in touch lawyers the minute you market your property and ask them to put together the leasehold documentation needed by the buyers solicitors.
  • The majority landlords or Management Companies in East Finchley charge for providing management packs for a leasehold homes. You or your lawyers should discover the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in East Finchley.
  • Some East Finchley leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference will need to confirm that the buyers are 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 buyers or their lawyers.
  • If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a new share certificate is often a time consuming formality and delays many a East Finchley home move. Where a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible.
  • You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your conveyancers. A purchaser's conveyancer will not be happy to advise their client to to exchange contracts if the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

    • I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a East Finchley conveyancing firm to assist?

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

    An example of a Lease Extension case 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 the number of years remaining on the existing lease(s) was 56.65 years.

    Other Topics

    Lease Extensions in East Finchley