Fixed-fee leasehold conveyancing in Edgware:

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

Common questions relating to Edgware leasehold conveyancing

Frank (my husband) and I may need to sub-let our Edgware 1st floor flat for a while due to a career opportunity. We used a Edgware conveyancing firm in 2003 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?

Even though your last Edgware conveyancing solicitor is not around you can review your lease to check if you are permitted to let out the apartment. The accepted inference is that if the lease is non-specific, subletting is permitted. There may be a precondition that you are obliged to seek consent from your landlord or other appropriate person prior to subletting. This means you not allowed to sublet in the absence of prior consent. The consent must not not be unreasonably withheld. If the lease does not allow you to sublet you should ask your landlord for their consent.

I own a leasehold flat in Edgware. Conveyancing and Leeds Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Edgware who acted for me is not around.What should I do?

First make enquiries of HMLR to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Edgware conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

I am tempted by the attractive purchase price for a two apartments in Edgware which have approximately fifty years left on the lease term. should I be concerned?

There are plenty of short leases in Edgware. The lease is a right to use the premises for a period of time. As the lease shortens the value of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena

Can you provide any advice for leasehold conveyancing in Edgware from the perspective of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Edgware can be reduced where you appoint lawyers as soon as you market your property and request that they start to put together the leasehold information which will be required by the purchasers’ solicitors.
  • A minority of Edgware leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying 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 service charge figures so that they can pass this information on to the buyers or their lawyers.
  • If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is a current dispute. You will have to accept that you will have to discharge 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 will still have to reveal details of the dispute to the purchasers, but it is better to present the dispute as over rather than unsettled.
  • If you have the benefit of shareholding in the freehold, you should ensure that you have the original share certificate. Organising a duplicate share certificate is often a lengthy formality and frustrates many a Edgware home move. Where a new share is necessary, you should approach the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.
  • You may think that you are aware of the number of years left on your lease but it would be advisable verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. It is therefore essential at an early stage 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.

    • Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Edgware. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?

    Absolutely. We are happy to put you in touch with a Edgware conveyancing firm who can help.

    An example of a Lease Extension decision for a Edgware flat is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The unexpired lease term was 71.73 years.

    Are there frequently found deficiencies that you encounter in leases for Edgware properties?

    Leasehold conveyancing in Edgware is not unique. Most leases are individual and drafting errors can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:

    • Repairing obligations to or maintain parts of the property
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Bank of Scotland, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

    Other Topics

    Lease Extensions in Edgware