Leasehold Conveyancing in Enfield Lock - Get a Quote from the leasehold experts approved by your lender

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

Recently asked questions relating to Enfield Lock leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Enfield Lock. Before diving in I require certainty as to the unexpired term of the lease.

Assuming the lease is registered - and 99.9% are in Enfield Lock - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

My partner and I may need to rent out our Enfield Lock 1st floor flat for a while due to a new job. We instructed a Enfield Lock conveyancing firm in 2002 but they have closed and we did not think at the time seek any advice as to whether the lease permits subletting. How do we find out?

Your lease dictates the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Enfield Lock do not prevent strict prohibition on subletting – such a clause would undoubtedly devalue the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.

I am attracted to a two apartments in Enfield Lock which have about 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?

A lease is a legal document that entitles you to use the premises for a period of time. As the lease shortens the value of the lease reduces and results in it becoming more expensive to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this arena

I am a negotiator for a busy estate agency in Enfield Lock where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Enfield Lock conveyancing solicitors. Could you clarify whether the vendor of a flat can instigate the lease extension formalities 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord 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 purchaser.

Can you provide any advice for leasehold conveyancing in Enfield Lock with the aim of speeding up the sale process?

  • Much of the delay in leasehold conveyancing in Enfield Lock can be reduced if you appoint lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the buyers solicitors.
  • The majority freeholders or managing agents in Enfield Lock levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Enfield Lock.
  • In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Enfield Lock leases often stipulate that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such alterations. Should you fail to have the paperwork in place do not communicate with the landlord without checking with your lawyer first.
  • If you hold a share in a the Management Company, you should ensure that you have the original share document. Arranging a new share certificate is often a lengthy process and delays many a Enfield Lock home move. Where a duplicate share is required, you should approach the company officers or managing agents (where applicable) for this at the earliest opportunity.
  • You believe that you know the number of years left on your lease but you should double-check via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. It is therefore important at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale.

  • Having spent months of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Enfield Lock. Can we issue an application to the Residential Property Tribunal Service?

    You certainly can. We can put you in touch with a Enfield Lock conveyancing firm who can help.

    An example of a Vesting Order and Purchase of freehold decision for a Enfield Lock property is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case was in relation to 2 flats. The the unexpired residue of the current lease was 80.01 years.