Guaranteed fixed fees for Leasehold Conveyancing in Farringdon

Leasehold conveyancing in Farringdon is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Farringdon and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Top Five Questions relating to Farringdon leasehold conveyancing

I have recently realised that I have 68 years left on my lease in Farringdon. I now want to get lease extension but my freeholder is absent. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order 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 demonstrate that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent may be useful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Farringdon.

I am hoping to exchange soon on a basement flat in Farringdon. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?

The report on title for your leasehold conveyancing in Farringdon should include some of the following:

  • You should receive a copy of the lease
  • The physical extent of the premises. This will be the apartment itself but might include a loft or cellar if applicable.
  • Are pets allowed in the flat?
  • Whether the lease restricts you from letting out the property, or having a home office for business
  • An explanation as to the provision in the lease to pay service charges - with regard to both the building, and the more general rights a leaseholder has
  • What options are open to you if a neighbour breach a clause of 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 Farringdon please enquire of your solicitor in ahead of your conveyancing in Farringdon

  • I've recently bought a leasehold flat in Farringdon. Am I liable to pay service charges for periods before completion of my purchase?

    In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

    If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

    Can you offer any advice when it comes to choosing a Farringdon conveyancing firm to deal with our lease extension?

    When appointing a property lawyer for your lease extension (regardless if they are a Farringdon conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you make enquires with several firms including non Farringdon conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be of use:

    • How many lease extensions have they conducted in Farringdon in the last twenty four months?
  • Can they put you in touch with client in Farringdon who can give a testimonial?

  • If all goes to plan we aim to complete the disposal of our £300000 flat in Farringdon next Wednesday . The landlords agents has quoted £348 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Farringdon?

    Farringdon conveyancing on leasehold flats usually results in administration charges invoiced by management companies :

    • Answering pre-contract enquiries
    • Where consent is required before sale in Farringdon
    • Supplying insurance information
    • Deeds of covenant upon sale
    • Registering of the assignment of the change of lessee after a sale
    Your lawyer will have no control over the level of the charges for this information but the average costs for the information for Farringdon leasehold property is £350. For Farringdon conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are required to provide the information.

    After months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Farringdon. Can we issue an application to the Residential Property Tribunal Service?

    if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.

    An example of a Lease Extension decision for a Farringdon flat is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired term was 66.8 years.