Sample questions relating to East Finchley leasehold conveyancing
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in East Finchley. I need to get lease extension but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to find the freeholder. On the whole a specialist may be helpful to try and locate and prepare a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a conveyancer in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing East Finchley.
Due to sign contracts shortly on a garden flat in East Finchley. Conveyancing solicitors assured me that they are sending me a report on Monday. 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 be sent a copy of the lease
I have just started marketing my 2 bed apartment in East Finchley.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is 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 management companies will not acknowledge the buyer unless 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 attracted to a couple of flats in East Finchley both have about forty five years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in East Finchley. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease reduces and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional assistance from a solicitor and surveyor with experience in this field
Can you offer any advice when it comes to finding a East Finchley conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a East Finchley conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggested that you talk with several firms including non East Finchley conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. Some following of questions could be helpful:
- If the firm is not ALEP accredited then what is the reason?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a East Finchley conveyancing firm to assist?
Absolutely. We can put you in touch with a East Finchley conveyancing firm who can help.
An example of a Lease Extension decision for a East Finchley property 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 unexpired lease term was 56.65 years.